We love the Harvard Business Journal.
If you’ve never spent any time reviewing the Harvard Business Journal, you really should check it out. There’s a wealth of information around technology, processes, analytics and really everything a ‘current’ business executive needs to survive in today’s market, whichever market that may be.
Today I’d like to share a link that i’ve offered several co-workers and clients as a way to help get their their their feet wet in Predictive Analytics like Predictive Coding or Predictive Review. In this article, Tom Davenport describes some criteria that might make predictive analytics more or less effective in the right conditions. What’s cool here is that the ‘best case scenario’ described is basically what we’re provisioning in Xera by iConect.
The Legal industry has an amazing opportunity to harness the power of Predictive Analysis against a highly organized data set, as is created byproduct of modern eDiscovery processes.
Most businesses work tirelessly to collect ‘good data’ (i.e.; actionable data with complete metadata) to drive regression analysis, concept / behavioral iterations and ‘feed the seed’ for predictive analysis. In modern eDiscovery, we typically present anywhere between 7 and 50 extracted fields of accurate, actionable metadata, including full text of the record that is then reviewed by highly trained subject matter experts to build relevancy in a few key issues.
The short story is, modern predictive analysis engines eat this stuff up.
Bottom line, even though Litigation Support technologies are a bit ‘late to the game’ of Predictive Analytics, they’re right on time and they arrive at a technologically mature level that allows applications to build user friendly workflows and software to drive the process.
Check out the article linked below. We hope you’re as excited about Predictive as we are. It’s a new dimension of review that deserves a place in your toolbox. Predictive is a mature, defensible and cost effective review technology thats here to stay.
We’re offering select clients a free pilot with Predictive Review in their own database as an educational initiative so experts can get ahead of the curve. Learn more about that pilot program here:
Check out the Predictive Primer at HBR here:
Or optionally, join Platinum for an informative webinar around Legal Predictive Review here: