Extract from Michelle Ruch’s article “Legal Review Efficiency—What’s Real and What’s Hype?”
Many corporate legal teams are reducing costs by bringing some or all of their ediscovery in-house. Even a small reduction in document review costs can have a significant impact on the bottom line. As we all work to keep up with the rapid pace of digital transformation, it’s important to focus on the trends and solutions that will provide real impact for your organization. Let’s explore some common trends and terms you often hear around review efficiency and see if we can separate hype from reality.
1. Dealing with Big Data—Like, Really Big
Forget gigabytes and terabytes. Many companies now generate petabytes of data every year, and it’s growing exponentially. There was 470 times more data in 2020 than in 2005, and that’s expected to quadruple again by 2025. Yet the legal departments aren’t getting more resources and court timelines aren’t getting any longer. This means companies need to find ways to efficiently process mountains of data without significantly increasing their costs.
Our verdict: Real.
