BUILDING A GLOBAL INFORMATION GOVERNANCE & DISCOVERY PROGRAMME – PREDICTIVE ANALYTICS
CD: Could you provide an overview of the benefits that predictive analytics can bring to a global information governance (IG) and discovery programme? To what extent is predictive analytics becoming a modern business staple?
Barden: Whereas tasks in the past would have all been completed manually, with the quality control also forming part of this manual workflow, we are now in a position where technology is able to amplify manual decisions and then statistically validate the work product. Data growth continues to increase exponentially, and although that means decisions can be made using richer data than before, we are reaching the tipping point of where full manual review of that data is becoming impossible. The use of statistical modelling maximises the value of the data that is already available – meaning that the experts are able to spend more time deriving insights, rather than locating the patterns.
Oot: Many parties have integrated predictive analytics into their global information governance (IG) programmes and pre-trial litigation practices. Analytics can help spearhead off-label marketing compliance research through the application of similarity analysis to reduce the volume of data to what is most important. A user can identify a set of email messages and use the built-in tools to locate similar documents in a large data set. Also, parties can use predictive analytics to target litigation themes that develop during depositions through a feedback loop to help illustrate their position or contradict opponents. Analytical tools can also provide insights into overall information management and governance programmes.
Oct-Dec 2019 issue
FTI Consulting
Shook, Hardy & Bacon LLP