More than a third of all corporate legal departments (38 percent) have not employed any recent eDiscovery technological advances in the past year, according to a survey by BDO Consulting. This lag in technological upgrades is complicating the vexing challenges associated with eDiscovery management.
“Big Data poses a significant challenge for organizations when it comes to managing eDiscovery,” said Stephanie Giammarco, partner and forensic technology services practice leader with BDO Consulting.
“As the volume and variety of electronically stored information increases, it becomes more difficult and more costly to identify potentially responsive evidence. Corporate counsel are looking for ways to decrease data volumes, increase efficiencies and reduce costs to adjust to this Big Data landscape.”
These goals are among the principal challenges that in-house and outside counsel are now better able to tackle with the deployment of new software tools. During a recent webinar hosted by EDRM and sponsored by LexisNexis, “The Future of eDiscovery: An Analytics Revolution to See Your Case More Clearly,” the panelists identified what they perceived to be the five most common challenges facing eDiscovery teams right now and how emerging technology solutions are coming to their aid:
1.Managing large volumes of data
There is no way to slow the explosion of electronic data in the litigation world, but there are ways to leverage technology to establish clearer rules for data extraction, more logically prioritized data sets, smarter review strategies and better data analytics solutions. For example, a new generation of analytics tools within eDiscovery software platforms provide hope for better managing those mountains of data and making the eDiscovery process more efficient.
2. Understanding the meaning contained in data
Technology is increasingly playing a key role in helping eDiscovery teams effectively identify and manage the data most important to the litigation. By building software tools that operate the way the human brain works, litigation professionals can better understand the meaning contained in the data sets in front of them and more quickly recognize the important story in the case.
3. Remaining competitive
Having the ability to cull down your data earlier in the litigation cycle enables your team to work more efficiently and competitively. Technology solutions can sift out as much as 85 percent of non-relevant data during early case assessment by filtering documents at the metadata level, enabling high-value legal talent to drill into strategy earlier and achieve faster results.
4. Reducing costs
To save money, follow the money. With more than seven out of every ten cents of document production costs consumed in the review phase, an eDiscovery software platform that emphasizes early case assessment can vastly reduce expenditures by honing terabytes of data down to a smaller data set that makes it to review.
5. Maintaining quality
One of the most exciting technological developments emerging in the eDiscovery category right now is the application of advanced visual analytics throughout the eDiscovery workflow. This analytics-powered approach to filtering, processing and review has the potential of leading litigation teams to a new set of best practices that will ensure the highest quality results at a lower cost than the traditional eDiscovery model of linear review.
The “Future of eDiscovery” webinar was moderated by George Socha (Co-Founder of EDRM, Owner of Socha Consulting LLC) and expert speakers included Ryan Bilbrey (Managing Director, Omnivere), Dean Kuhlmann (Vice President, Brainspace) and Krista Fuller (Director of Product Management, LexisNexis Litigation Solutions).
To listen to an audio recording of the program, please click here.
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