Navigating Costs and Precision in Legal Document Review

On this third episode of Ropes & Gray’s Insights Lab’s four-part Multidimensional Data Reversion podcast series, Shannon Capone Kirk and David Yanofsky discuss the crucial steps in the iterative cycle of data analysis, visualization, and insight. They delve into the complexity of using free text in data analysis, explaining how unstructured text differs from structured data and the challenges it presents. The conversation also covers methods to analyze free text, including the use of rubrics, sentiment analysis, and self-scoring. They highlight the significance of understanding emotions and psychological safety when collecting and analyzing data. Additionally, they address the current limitations and potential of generative AI in data analysis, providing a realistic view of its capabilities and costs.