Home » Large Law » Recap:  7 Drivers of Change in eDiscovery Industry

Recap:  7 Drivers of Change in eDiscovery Industry

7 Drivers of Change in eDiscovery Industry

Note: The following is a guest post from Daryn Teague, who provides support to the litigation software product line within the LexisNexis software division.

Prior to the official start of LegalTech New York 2015 this morning, a few dozen legal professionals from large corporate law departments and major law firms gathered at the “LTNY 2015 Kick-Off Breakfast” to discuss the keys to success in the eDiscovery business over the course of the next five years.

“Now is the time to invest in yourself by thinking clearly about what’s next for you personally — and for your organization generally – with respect to the evolving worlds of information governance and eDiscovery,” said David Cowen, president of The Cowen Group and the moderator of the event. “That starts with understanding what the major drivers of change in our industry are likely to be from 2015 to 2020.”

The session identified seven major drivers in the eDiscovery business over the next five years:

  1. The rise of managed services
  2. Big Data/Smart Data
  3. Convergence of privacy, security and governance
  4. New corporate standards and expectations
  5. Emerging technologies
  6. New federal, state and agency regulations
  7. A “Black Swan” event that catches us by surprise

At small breakout discussions, participants in the session were given the opportunity to exchange ideas about how they can get in front of these drivers.

4 Tips for Litigation Support Career Development

The breakouts included “career workshop” discussions about what litigation and eDiscovery professionals can do to make themselves indispensable to their organizations and concluded with a four-pronged prescription for the year ahead:

(1) Focus on what matters most to me in the future;

(2) Make a plan for improving my value in the marketplace;

(3) Learn as much as possible through available industry resources;

(4) Network with colleagues inside and outside of my organization, including third-party vendors

What do you perceive to be the biggest drivers of change in the eDiscovery industry over the course of the next five years? How can you position yourself and your organization to get in front of those drivers?

 * * *

The LTNY 2015 Kick-Off Breakfast was organized by The Cowen Group and sponsored by LexisNexis.  Don’t miss this session this afternoon:

What: LegalTech Panel, Law Firms Mobilize to Deal with Data Security Threat
When: Tuesday, February 3, 2015 from 2:45 to 3:45 p.m.
Where: Sutton Center
Who: Open to all #LTNY attendees

 Related #LTNY Events and Coverage

Photo:  Flickr, Tom Thai, CC BY 2.0

If you enjoyed this post, you might also like:
5 Statistics Forecasting the Future of eDiscovery 

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About Contributing Writer

Contributing Writer
This bio page is used to publish submissions by contributing writers. We welcome contributions from the legal community and are especially keen for contributions from our customers. Please review previous submissions published here and the “About Us” section to get a sense for what topics work for this blog. All posts must be original content not published elsewhere for at least 30 days. To submit an idea for consideration, please email blsssocial@lexisnexis.com.