LTNY 2016: Innovation Takes Back Seat To Saving Time & Money In eDiscovery

While innovation remains a crucial component to greater acceptance of eDiscovery, LTNY 2016 demonstrated the emphasis has shifted. “Technology innovation may be sagging but adoption isn’t,” according to Brian Burnor, CTO of LightSpeed. The consensus is that innovation wasn’t truly front and center this year, having been overtaken by a search for ways to improve eDiscovery while saving time and money. For example, Technology Assisted Review continues to climb in acceptance of new methods to search more e ciently.

One way LightSpeed harnessed the methodology showcased at LTNY is by spending the last year combining traditional search with analytics. The combination has produced impressive results: a 92% cull rate. “For us that is over 10 million fewer documents reviewed compared to keyword searching alone, a great savings of time and money,” Burnor acknowledged.

At LTNY, there was much agreement on the importance of o ering cost structures that lead to informed decisions on eDiscovery, but no one discussed a good tool that easily estimates costs prior to discovery LightSpeed maintains a strong commitment to lowering those eDiscovery costs. “We’ve designed our line item charges to be as minimal, transparent and predictable as possible. We’ve combined our simpli ed model with aggregated statistics drawn from our work in 2015,” said Tony Lehr, CEO of LightSpeed. “Our goal is to quickly calculate an initial and recurring cost estimate from as little information as how many custodians will be involved,” he added. An important part of that commitment is LightSpeed’s innovative pricing calculator.

“Our calculator is interactive so you change any assumption and still get an accurate estimate,” Burnor continued. “Within the coming months we plan to add estimates for technology assisted review, automated review and traditional review. By the end of 2016 we will add the logic to compare estimates to invoiced amounts to further increase our accuracy.”

This year’s LTNY also tackled ways to improve processing time and gather data. One key takeaway was the realization that consumer applications like Pandora, Netfix and Amazon have in uenced expectations, leading to consumerization in eDiscovery. People have become accustomed to quickly and easily getting relevant information to shape their decision making and buying processes. For example, when you make a purchase on Amazon, it displays other data points, such as “similar items.” In their professional lives, people now expect comparable results from other software, including their eDiscovery vendors.

One thing everyone agreed upon – which is unique in the industry – is that regardless of new ways of processing data, the sheer volume of what is available for review has become overwhelming. People have advanced beyond terabytes, measuring data in yottabytes and brontobytes. There are so many devices and channels, including wearable technology like Fitbits, that their increased adoption will only drive more data and better ways to improve processing. One common solution presented was to front load discovery at the beginning of the EDRM cycle during the identi cation stage, by using advanced analytics to reduce data sets, the increased adoption of which will only drive more data and better ways to improve processing.

In addition to the seminars, demos and keynote speeches, there’s always another big draw to LTNY: the Big Apple itself. Attendees were never more than a few steps away from the hustle and bustle of one of the world’s great cities. One evening the LightSpeed team experienced Jazz at Lincoln Center, at Dizzy’s, overlooking Columbus Circle and Central Park. “Not only can you unwind from the day but you will always get some world class jazz,” Lehr said, adding, “The combination of that level of music combined with the quality level of LTNY was enough to make me look forward to next year already.”

Coming to LegalTech with a solid list of priorities and meetings and then adding a bit of schedule overload and late nights and early mornings, “there wasn’t much left to try to accomplish. To me, that what makes LegalTech so special,” Lehr concluded.