How does it work?
Lawptimize has the following pages:
A) The decision tree
The user creates the full decision tree for the litigation process. He adds details of the process which will be helpful to him for the setup of the strategy.
B) The Statistics
As soon as the tree is completed the user runs the statistical analysis. Monte Carlo statistical experiments run in the background in order to calculate the estimates of the litigation for a series of parameters:
- Most probable result
- Estimated Gain
- Estimated Loss
- Cash Flow analysis
- Time range analysis
- Variational analysis of the above estimates.
C) The Results
The results of the statistical analysis are presented in graph and number format. Statistical errors are also included for each of the parameters so that you can establish a level of confidence in the calculation and results that are presented.
D) The Actual results
As the litigation progresses you enter the actual results in the system and re-run the calculation. This will allow you to optimize the process in all its stages.