DENVER, CO — (Marketwired) — 08/06/13 — To help quantify the cost benefits of predictive coding and technology-assisted review, , Inc., the leader in secure, software that simplifies e-discovery for corporate counsel and law firms, today announced the release of its . The free, web-based calculator gives corporations and their legal teams greater cost predictability by estimating how much time and money they will save from using , a (SM) 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 — including 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. The result is a detailed accounting of the savings realized from Predictive Ranking in dollars, hours and documents reviewed. Results appear immediately, with a yield curve showing the percentage of documents that counsel needs to identify as responsive in order to achieve their target recall.
“Insight Predict revolutionized technology-assisted review for corporate legal departments and law firms by introducing the first predictive coding tool that works with rolling collections and 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.”
“Catalyst clients 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,” Tredennick continued. “Now, with the ROI Calculator, legal teams have a tool to forecast the potential savings from Insight Predict before beginning the review.”
Insight Predict helps corporations save time and money while . It is based on more than four years of intensive experience using and testing predictive coding techniques. The tool uses artificial intelligence and machine learning to offer significant advantages over human review:
Contextual diversity sampling and other statistical techniques are used to create a sample, or “seed set,” from a larger population of documents. Review experts can then review the sample, rank documents for relevance and feed that information back into the program, thereby “training” it to calculate the relevance of documents on its own.
Insight Predict was designed specifically to work dynamically with rolling data input, making it the only predictive coding technology that aligns with the typical review workflow.
Catalyst-s proprietary self-correcting process — Predictive Ranking — feeds additional samples to the expert to test or validate their relevance and to progressively improve the accuracy and precision of the rankings.
Learn more about Insight Predict and the ROI Calculator by attending the ILTA product briefing webinar, “,” on August 9 at noon EDT, or by visiting Catalyst in Las Vegas at , August 18-22, at Booth #716. For more information about Insight Predict, click For more information about Insight, Catalyst-s next-generation e-discovery platform, .
Founded in 1998, Catalyst is a leader in delivering secure, cloud-based e-discovery software for corporations and law firms. Catalyst simplifies the e-discovery process in response to litigation, regulatory inquiries and internal investigations by ensuring repeatable, defensible and measurable business processes that significantly reduce cost, risk and time. The Catalyst Insight E-Discovery Platform and Insight Predict enable customers to succeed with a single matter and seamlessly migrate to multi-matter discovery within the same software platform. A pioneer in the use of global language e-discovery, advanced search and analytics methodologies, predictive ranking and big data e-discovery, Catalyst has served many of the largest companies and law firms in the world. For more information, please visit Catalyst at or follow us on Twitter at: .
Shana Graham
Plat4orm PR
206.661.6336
You must be logged in to post a comment Login