June 18, 2019 Practice Points

10 Benefits of Complex Data Analysis

One of the best ways to determine when to hire a data-analysis expert is to look at what benefits you can derive from their work.

By Angela Sabbe

One of the best ways to determine when to hire a data-analysis expert is to look at what benefits you can derive from their work. Here are 10 ways an expert can help you.

  1. Assess available data and evaluate what the data can and cannot tell you. 
  2. Identify and test relevant data elements.
  3. Analyze data to identify consistencies and inconsistencies within the data.
  4. Determine key considerations and variables to include in financial models.
  5. Assess individualized versus systemic issues.
  6. Compare client data against, and analyze in conjunction with, third-party and industry data.
  7. Evaluate all available, relevant, and valid data, rather than performing a sample review.
  8. Quickly assess potential liability and quantify potential exposure.
  9. Generate various dynamic scenarios to evaluate the impact of changes to a financial model.
  10. Make informed decisions about strategies and approaches.

Angela Sabbe is a managing director with Ankura in Los Angeles, California, and chairs the Consumer Litigation Committee’s Subcommittee on Electronic Transactions.

 

Ankura is the Litigation Advisory Services Sponsor of the ABA Section of Litigation. This article should be not construed as an endorsement by the ABA or ABA Entities.

 


Copyright © 2019, American Bar Association. All rights reserved. This information or any portion thereof may not be copied or disseminated in any form or by any means or downloaded or stored in an electronic database or retrieval system without the express written consent of the American Bar Association. The views expressed in this article are those of the author(s) and do not necessarily reflect the positions or policies of the American Bar Association, the Section of Litigation, this committee, or the employer(s) of the author(s).