“Research has always been central to the attorney’s role, and combing through the large volumes of information that pertains to a case is incredibly time consuming,” according to Olivia Timson, in a piece for The Innovation Enterprise.
She also reports another noteworthy business challenge: this is expensive. She writes, “lawyers and law firms spending around $8.4 billion on it annually in the U.S.” The “quicker and more accurately an attorney can find information that’s actually useful,” the better she notes.
In part, this is why a focus on early case assessment may have such a strategic role in 2016. Better insight into litigation data sooner, which drives better litigation strategies and reduces costs.
This is the catalyst behind the new Lexis® DiscoveryIQ eDiscovery platform, which LexisNexis announced this week at the LegalTech® New York tradeshow. As part of that announcement, LexisNexis announced it teamed up with Brainspace Corp., to provide advanced visual analytics.
Don’t miss the complete announcement:
LexisNexis Unveils Lexis® DiscoveryIQ eDiscovery Platform
Enhanced by Brainspace
Four Questions with the Brainspace CEO
1. Who is Brainspace Corp. and what does its technology do?
“We are a fast emerging software company and the creators of the machine learning platform that has become the new standard for analytics in the eDiscovery industry. The relentless increase in data volumes we are seeing in the market coupled with downward pricing pressure, are producing the need for efficiencies and scale that have never been achieved before.
Today, there is not another technology on the market that can enable eDiscovery practitioners to reduce millions of documents down to just the few that matter faster or more efficiently than Brainspace.”
2. Why is Brainspace technology different?
“We have combined a very powerful machine learning technology with a rich, visual analytics environment that reinventing the way analytics are being done in the market.
Before a search button is ever pushed, Brainspace connects the concepts in millions of documents into a single unified intelligence that analysts can use to find answers. It’s a machine assisted – human-driven environment that augments the intelligence of data scientists and eDiscovery practitioners so they can intelligently discover and connect with the answers they are looking for.
Most solutions on the market are what I call ‘check the box analytics’. They use yet another version of keyword search or black box semantic search, slap it into an interface with a few bubble graphs and bar charts and call it analytics.
People spend inordinate amounts of time in check-the-box systems that very slowly or never produce relevant results. Machine learning and user experience (UX) are a big part of our DNA at Brainspace and that combination of expertise comes together inside our products that are producing spectacular results for our clients.”
3. What do you think are the top challenges in eDiscovery?
“The challenges today in eDiscovery are all related to speed, scale, accuracy and efficiency.
We are no longer in an environment where the emphasis can be on review right out of the gate. Review, no matter what system you use, can account for upwards of 73% of the total cost of an eDiscovery review.
With that in mind, the goal has to be to reduce these massive data populations down to just the responsive documents that matter as quickly and efficiently as possible before review comes into play. The new focus is on real analytics.
I think a sort of Darwinism is taking place now in eDiscovery. Legal Services organizations that are not focused on real analytics will begin to be replaced by those that are. There is a new Smart Discovery Era emerging in eDiscovery and its being led by companies that are expert in machine learning and analytics.”
4. Brainspace Corp. recently teamed up with LexisNexis to deliver a new eDiscovery platform. What is most important for customers and potential customers to know about this new product?
“We could not be more excited to be making this announcement with LexisNexis. There is not a stronger, more trusted brand in the market today than Lexis. By now combining Brainspace’s industry leading machine learning and visual analytics with the new Lexis technology and brand, we are delivering the next generation of advanced analytics to practitioners at a time when they need it the most. It’s an exciting time for everyone.”
* * *
The LexisNexis team is exhibiting in booth #100 and the Brainspace is exhibiting in booth #331. Please feel free to stop by and have a chat before the show ends.
If you enjoyed this post, you might also like:
Early Case Assessment: 3 Words to Drive Down eDiscovery Costs