Legal Industry Survey Reveals Growing Interest in Business Intelligence Applications

Global News

30
Jan
2017

Editor

FRONTEO USA, Inc., a leading provider of global eDiscovery, managed review solutions and big data analysis services utilizing artificial intelligence technology, today announced the release of results from a survey on the needs and desires of Legal & IT professionals who are involved in the eDiscovery process and require tools and capabilities to analyze data and report on performance metrics throughout the EDRM lifecycle.

Among the key findings in the survey:

• Interest and experience with eDiscovery metrics and BI is growing, and IT plays a dominant role in their selection, use and oversight.
• While 25% of respondents have five years’ or more experience with analytics and BI, nearly half (48%) of Law firm participants have no experience with reporting and visualization software.
• Well over half (63%) of surveyed law firms said they collect eDiscovery metrics by manual entries in spreadsheets, and 68% expressed a desire for dashboards to visualize their eDiscovery data.

The complete survey report reveals current activities and attitudes on the importance of monitoring eDiscovery project status, KPIs, legal spend and mobile access, not only in the interest of efficient case management but also to inform firm decisions about staffing, service offerings, and business planning.

The survey report, titled “The Ascent of Business Intelligence in The Legal Market” will be available to attendees at the FRONTEO booth #1401 at Legalweek 2017 in New York, January 31 to February 2, 2017.

At Legalweek, FRONTEO will also demonstrate the company’s BI dashboard for law firms and corporate legal teams. The TRUST Business Intelligence portal summarizes volumes of data from the Relativity® eDiscovery platform, the Relativity User Activity and Status function, and financial data repositories. The portal delivers clear visual analytics reflecting metrics on project status, user/service breakdown and legal spend, enabling informed decisions and better case outcomes.

FRONTEO will also showcase its full set of products and services on the exhibit floor, including capabilities around forensics, managed review and also cross-border matters supported by the FRONTEO Lit i View™ platform for Asian language matters.

Legalweek attendees can request a demo or pre-scheduled meeting with FRONTEO subject matter experts on the FRONTEO website.

Survey Methodology

FRONTEO commissioned a blind study with 451 Research to obtain a deep market understanding of needs and desires from law firms and corporations as it relates to eDiscovery metrics, dashboard capabilities, and other business intelligence related analytics.  The independent Blind Study sample size was 110 organizations, and the survey responders includes law firms and corporations.