© 2014, teris, applying analytics: effective & efficient data management in litigation and...
DESCRIPTION
© 2014, TERIS, Data: by the numbers Data volumes in the world double every months. The same is true for individual organizations. Around 80% of an organization’s data is electronic communications and user-generated files. It’s estimated that approximately 50-70% of an organization’s data is ROT (Redundant Outdated Trivial). Only 28% of organizations are attempting to proactively manage their data. Only 10% report being effective. “Knowingly or not, organizations face a fundamental choice: They can control their information, or by default, they can allow their information to control them.” -- Sedona Conference Commentary on Information GovernanceTRANSCRIPT
© 2014, TERIS, www.TERIS.com
Applying Analytics: Effective & Efficient Data Management in Litigation and Beyond
© 2014, TERIS, www.TERIS.com
Panelists
Jill Bindler
Associate
McKool Smith
John Hartman
Principal
TERIS
Dean Kuhlmann
VP, Business Development
Brainspace Corporation
© 2014, TERIS, www.TERIS.com
Data: by the numbers
Data volumes in the world double every 18-24 months. The same is true for individual organizations.
Around 80% of an organization’s data is electronic communications and user-generated files.
It’s estimated that approximately 50-70% of an organization’s data is ROT (Redundant Outdated Trivial).
Only 28% of organizations are attempting to proactively manage their data. Only 10% report being effective.
“Knowingly or not, organizations face a fundamental choice: They can control their information, or by default, they can allow their information
to control them.”
-- Sedona Conference Commentary on Information Governance
© 2014, TERIS, www.TERIS.com
Discovery Analytics: 3 buckets
Structured Analytics Grouping and sorting based on text similarity and organization Examples: Email threading, near-duplicate identification
Concept Analytics Find the meaning of content within the specific dataset Examples: concept clustering & searching, keyword expansion
Predictive Analytics Human review of small subset is used to train the system to
statistically “predict” how to properly code the entire data set
© 2014, TERIS, www.TERIS.com
What’s my ROI?
Reduction of eDiscovery and legal costs Cost per GB of data in discovery is ~$20,000. $16-18K is attorney
review Reducing the volume potentially reduces what needs to be
preserved/collected/reviewed/produced. Reduced potential for errors (and by extension, sanctionable conduct)
Reduction of regulatory compliance risks Increased access to relevant data can reduce compliance risks
associated with improper handling of inquiries & investigations
Reduction of hard IT costs $4,000,000 – approx. annual cost to store 1PB of enterprise data
© 2014, TERIS, www.TERIS.com
Takeaways
Get in the game If you and your firm/Corporation is not already utilizing the many analytical tools
available to you, you are behind. This wave of technology is already 3rd Generation, has proven success in defensibility
and cost savings- not bleeding edge.
Test everything Setup a formal software evaluation and commit the time necessary to see it through
before purchasing & before going into production Commit to staying current. Investigate technology development roadmaps, therefore you know what advances will
be available and that your investment is not being mothballed.
Dig deep on core Technology There is a lot of technology out there that provides minimal advancement. Seek out technology that has reach beyond your next discovery deadline.
Control your data- don’t allow your data to control you!