Legal Industry Survey Reveals Growing Interest in Business Intelligence Applications
Survey Results Show Nascent Demand for Visual Dashboard Capabilities for eDiscovery Management, Business Decision Support
January 30, 2017 09:00 ET | Source: FRONTEO
NEW YORK, Jan. 30, 2017 (GLOBE NEWSWIRE) -- FRONTEO USA, Inc. ("FRONTEO USA"), 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 or by clicking this link.
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.
About FRONTEO USA, Inc.
FRONTEO USA, Inc. ("FRONTEO USA") is a wholly-owned direct subsidiary of FRONTEO, Inc., a publicly traded global technology and services company specializing in big data, artificial intelligence, information governance, managed review, and litigation consulting for the eDiscovery market. FRONTEO USA serves Am Law 200 law firms, Fortune 500 companies and government agencies across all phases of the e-Discovery process including collection, processing, forensic investigation, hosted review, and production. FRONTEO USA provides robust English language services along with advanced specialization in Chinese, Japanese and Korean (CJK) languages supported by our Lit i View™ platform. Driven by FRONTEO's unique AI technology KIBIT™, companies are able to proactively and predictively assess fraud, data leakage and pre-crime events alongside the e-Discovery lifecycle and gain a deep understanding of their data. FRONTEO USA is a Relativity Best in Service Orange partner, and maintains review centers in San Francisco, Los Angeles, Phoenix, Houston, New York, Washington, DC, Tokyo, Seoul, Taipei City, and Manila. For more information visit www.fronteo.com/usa.
This announcement contains forward-looking statements. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the amount of data that FRONTEO expects to manage this year and the potential uses for FRONTEO's new service in intellectual property-related litigation, contain forward-looking statements. FRONTEO may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about FRONTEO's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: FRONTEO's goals and strategies; FRONTEO's expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, FRONTEO's services; FRONTEO's expectations regarding keeping and strengthening its relationships with customers; FRONTEO's plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where FRONTEO provides solutions and services. Further information regarding these and other risks is included in FRONTEO's reports filed with, or furnished to the Securities and Exchange Commission. FRONTEO does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and FRONTEO undertakes no duty to update such information, except as required under applicable law.
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