Global News
Quantifies Time and Cost Savings of Insight Predict
To quantify the cost benefits of predictive coding and technology-assisted review, Catalyst Repository Systems, Inc., the leader in secure, cloud-based e-discovery software that simplifies e-discovery for corporate counsel and law firms, today announced the release of its Predictive Ranking ROI Calculator.
The free, web-based calculator gives corporate and law firm counsel greater cost predictability by estimating how much time and money they will save from using Insight Predict, a Predictive RankingSM tool, instead of linear review or first generation predictive coding tools.
The Catalyst Predictive Ranking ROI Calculator analyzes the entire scope of a review project—such as the total number of documents, the percentage of responsive documents, estimated target recall, and hourly rates for first-pass and second-pass or privilege reviewers—to provide a detailed accounting of the estimated savings in dollars and hours. Results appear immediately, with a yield curve showing the percentage of documents that counsel would need to review to achieve their target recall—i.e. the percentage of responsive documents they target to identify.
“Insight Predict revolutionized the way corporate legal departments and law firms approach the entire review process by offering a tool that works with rolling collections to accommodate real-world workflows,” said John Tredennick, CEO of Catalyst. “In response to client feedback, we developed the ROI Calculator to help GCs and other legal professionals quantify the benefits of Insight Predict versus traditional review.
Tredennick continues, “Legal teams already know that Insight Predict enables a more efficient, less expensive process—with smarter searches, more accurate and consistent tagging, and the ability to identify key legal issues. Now, with the ROI Calculator, they have a tool to assess exposure and potential savings much earlier in the process.”
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