RenewData Announces Strong Demand for Language-Based Analytics

USA/Canada News

15
Oct
2013

Editor

2013 Language-Based Analytics Revenue Up More than 40 Percent vs. 2012

RenewData, a full-service eDiscovery provider that offers the industry’s most advanced spectrum of review acceleration solutions, today announced a 40 percent year-over-year growth in Language-Based Analytics revenue through three quarters in 2013.

Strong demand for the Language-Based Analytics offerings has also led to a 75 percent year-over-year increase in the number of projects from 2012 to 2013.

“Clearly, corporate legal departments and law firms are opting for the transparency and cost savings afforded by Language-Based Analytics that predictive coding cannot fully provide,” stated Jim Blayney, CEO of RenewData. “We anticipate continued growth for our Language-Based Analytics and eDiscovery offerings and are doubling our hosting and processing capacity to meet the demand.” 

The company has also added new employees to its development, project management and analytics consulting teams to support the increased demand for its Language-Based Analytics and eDiscovery offerings.

In August, the company launched a first-of-its-kind guarantee for Language-Based Analytics Review. When a legal organization uses the RenewData Language-Based Analytics workflow and tools along with RenewData’s librarians and consultants to help with processing and first-pass review, RenewData will typically guarantee that the organization will not have to review more than 20 percent of the text documents that remain after deduplication and metadata filtering. If, after completing the first-pass review, it is determined that the organization reviewed more than the guaranteed percent of the collection, RenewData will reimburse it the Language-Based Analytics hourly and technology fees plus an additional 10 percent.