Big Data can be Asset or Vulnerability
February 24, 2016
Big data can be tracked and analyzed to help understand customer habits, to customize solutions and products, and to leverage marketing efforts. Data sources often have tools for mining and using the data to the benefit of the company. But on the downside, email, memos, presentations and spreadsheets can accumulate in the routine effort to communicate. This data has the potential to become a pain point long after the end of its useful life by being pulled into review for a legal discovery request.
The greatest challenge is unstructured data and email, and it is important not to let this become a problem. Planning ahead with an effective readiness plan has been proven to minimize risks, reduce cost and maintain defensibility. Even when a company is not fully prepared, it is possible to take advantage of discovery requests to get data in order and prepare for future needs. Having readiness plans – with retention policies – and leveraging technology to weed through data can minimize risk with a side benefit of reducing costs.
Document review is usually the most expensive part of discovery. In some cases it accounts for more than 70 percent of total discovery costs. Leverage technology to defensibly reduce the number of documents going into review. If a company can make that reduction, it not only will save substantial review costs, but it will enable legal teams and outside counsel to more quickly focus their energy on relevant data.
Read full article at:
Share this post: