A critical way to reduce or maintain eDiscovery costs is to reduce the data for review.
The sooner this happens, the better, and earlier insights into data can help drive better litigation strategy decisions. Every case has a story; find it faster as the graphic below suggests. PreDiscovery can reduce the documents required for review by as much as 85% and a new product does it faster.
This morning at the LegalTech® NY tradeshow, LexisNexis®, alongside the Brainspace team, unveiled a product: the new Lexis® DiscoveryIQ platform. The premier trade publication for the conference, Legaltech News, was first with the story.
In an article titled, Lexis DiscoveryIQ Applies Advanced Visual Analytics to E-Discovery, reporter Ian Lopez wrote:
“Lexis DiscoveryIQ’s development expands upon that on LexisNexis Early Data Analyzer. In doing so, LNLP said that they were able to focus on pre-discovery processes by building on early case assessment capabilities, after which they were able to integrate data analytics, smart review tools and predictive coding into the workflow.”
The news release – LexisNexis Unveils Lexis® DiscoveryIQ eDiscovery Platform Enhanced by Brainspace – published by LexisNexis calls out four key points:
1. Comprehensive litigation support.
The platform deeply infuses analytics, including technology assisted review (TAR), machine learning and visual analytics into one intuitive interface with speed, performance and scalability.
2. Earlier insight into data.
Some 73 percent of eDiscovery costs rest in review. The Lexis DiscoveryIQ offering provides litigation teams with greater visibility from the outset of a case, which helps them to quickly understand any potential exposure in the initial data set and reduce the cost of review.
3. Flexible analytics throughout eDiscovery.
While designed for large cases, this new platform provides machine learning and analytics throughout the workflow, eliminating that barrier. The solution supports investigational efforts and case analysis as easily as it supports more traditional eDiscovery workflow.
4. Faster path to more accurate results.
The new predictive coding technology promises a faster, simpler way to reduce data to relevant facts, using smarter algorithms and creating a better user experience. The Brainspace technology provides significant value in accelerating the review process by 60 to 90 percent.
So far, the market reaction has been positive:
“With Lexis DiscoveryIQ, LexisNexis and Brainspace are challenging the status quo,” said Ryan Bilbrey, managing director of OmniVere, LLC, and a member of panel of advisers for development. “Disruption is a term that’s tossed around almost callously in legal technology circles these days, but in this case, here is a team that has reimagined the eDiscovery process to help litigation teams achieve vastly better results.”
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If you’re attending the LTNY conference, feel free to stop by booth #100 for a live demonstration of the new product – and shot of espresso. If you were unable to attend the show, here’s a link to set up an appointment for a web-based demonstration.
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