Data Analytics & Analysis
In today’s digital world, data is being created and amassed at ever increasing speeds. It’s estimated that the amount of data in the world has now surpassed 3 Zettabytes of data (that’s 3 Trillion Gigabytes), with some estimates putting it even higher. Additionally, studies have shown that the data in the world has doubled every 18-24 months during the last five years, and the volume is expected to increase by a factor of 44 by 2020. That is a lot of data to manage.
Now consider that at least 50% of the data being stored by an organization is R.O.T. (Redundant, Outdated, or Trivial) and has no business value. What’s more, while the value of the organization’s information will significantly decline over time, the costs and risks will not. Unfortunately, most organizations opt for a "keep it all" process, this leads to more data and more ROT when litigation arises and discovery unfolds.
At TERIS, we work closely with your team to help your organization achieve a better understating of its information. TERIS Managed Services option involves deployment and support of the appropriate analytical technology building efficient workflow design. Internal collection and hand off to TERIS for technology assisted review and analytics is another path many take. Regardless of the setting, in-house (Managed Services) or through the TERIS internal process, data analytics identifies both unwanted data (ROT) and provides better insight into the relevant data.
Document review is the single greatest cost in litigation; analytics is proven to reduce review time by 30-40%, TERIS embraces workflows that match client experience with the appropriate analytics option and we support the process 100%.