In other words, not all charts are created equal. If an everyday dataviz can’t speak for itself, it has failed - just like a joke whose punch line has to be explained.” “A poorly designed chart will waste that time by provoking questions that require the presenter to interpret information that’s meant to be obvious. “In a presentation, time is constrained,” writes Scott Berinato in the Harvard Business Review. The secret is, the visual has to be appropriate and on-point.
According to the Harvard Business Review, “Visual perception research has established the fact that visual information is powerfully and inescapably persuasive in a way that text and speech aren’t.”
Research shows that images and visualizations help influence attitudes. Visualization tools like What’s Market Analytics help attorneys communicate these nuanced points to clients. “Especially in M&A deals, to ensure what we’re agreeing to is standard.” Clients want to “see what the trends are, what we need to think about, and why we should or should not accept terms or provisions,” he said. “I would use this in a negotiation,” one transactional attorney told us.
MARKETS BEST DATA VISUALIZATION TOOLS HOW TO
What’s Market Analytics, for instance, provides actionable data on market practices to help attorneys advise their clients on how to approach a matter and how hard to negotiate specific points in an agreement. To put them into perspective against overall market practices and drive more effective strategies for their clients. Now, new tools available to attorneys quickly demonstrate a point to influence a client or opposing counsel. Until now, getting a picture to tell a data-driven story about a legal matter has been time- and cost-prohibitive. Attorneys have been collecting stories, trading them with colleagues, and repeating them to clients for generations. It’s no secret that people learn and are moved by stories and images. Increasingly, attorneys are relying on visualizations to make their point, especially when complex data rolls up to a compelling image. Tell a market trend story with data visualization Or, you can save your breath and use a picture instead. You can load them up with bullet points and statistics and hope that your logical analysis makes them feel good about giving on something they were hoping to avoid. You can explain the raw data and your analysis of it. You could get the client’s deal team on a conference call and walk through the data you compiled. As you exchange redlines with the other party, though, you see that you’re going to have to give on some provisions to win on your client’s most important terms. You consider a few scenarios - if we give in on this, what can we expect to get? How do we get what we need on the most important provisions without giving too much on the others? You check Practical Law’s What’s Market tool to analyze market trends. “What’s market?” is the great dividing line, and it’s so important to make sure you’re not digging in your heels on a nice-to-have that doesn’t reflect market practices. Corporate transaction negotiations are heavily influenced - even determined - by recent practices in similar deals. You know what the client wants out of the deal, and you have a pretty good sense of what the other party will ask for. You know where the client stands on some of the key provisions and you want to set clear guardrails rooted in current market practices.
You’re preparing to negotiate a merger agreement.
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