Tue. Jan 18th, 2022
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    Content Assessment: Winter 2022 eDiscovery Business Confidence Survey Results

    Information - 94%
    Insight - 96%
    Relevance - 95%
    Objectivity - 98%
    Authority - 94%

    95%

    Excellent

    A short percentage-based assessment of the qualitative benefit of the recent post highlighting results from the Winter of 2022 eDiscovery Business Confidence Survey.

    Editor’s Note: The eDiscovery Business Confidence Survey is a non-scientific quarterly survey that shares insight into the business confidence of individuals working in the eDiscovery ecosystem. The survey consists of nine core questions on factors related to the creation, delivery, and consumption of eDiscovery products and services purposed toward cyber, data, and legal discovery tasks. Additionally, the survey contains three optional questions focused on the business operational metrics of days sales outstanding (DSO), monthly recurring revenue (MRR), and customer revenue distribution. Administered for the twenty-fifth time in the winter of 2022, the survey has been conducted eight times during the current global pandemic.


    The Winter 2022 eDiscovery Business Confidence Survey Results

    The winter 2022 survey response period was initiated on January 6, 2022, and continued until January 12, 2022. The survey was highlighted and promoted primarily by direct email from ComplexDiscovery to cybersecurity, information governance, and legal discovery professionals. This quarter’s survey experienced a solid* response rate with 54 eDiscovery professionals sharing their opinions on the business of eDiscovery.

    While individual answers to the survey are confidential, the aggregate and unfiltered results are published to highlight the business confidence of participants regarding economic factors impacting the creation, delivery, and consumption of eDiscovery products and services during the winter of 2022. These results may be useful to legal, information technology, and business professionals seeking to better understand current and potential future business conditions as shared by survey participants.


    Business Confidence Questions (Required)

    n = 54 Respondents

    1. Which of the following segments best describes your business in eDiscovery?
    Part of the eDiscovery ecosystem where your organization resides

    • Software or Services Provider – 46.3% ↑
    • Law Firm – 18.5% ↓
    • Consultancy – 16.7% ↓
    • Corporation – 5.6% ↓
    • Other – 5.6% ↑
    • Governmental Entity – 3.7% ↑
    • Media/Research – 3.7% ↓
    1 - Survey Respondents by Organizational Segment - Winter 2022

    2. How would you rate the current general business conditions for eDiscovery in your segment?
    Subjective feeling of business performance when compared with business expectations

    • Good – 63.0% ↓
    • Normal – 33.3% ↑
    • Bad – 3.7% ↓
    2 - Current Business Climate Overview - Winter 2022

    3. How do you think the business conditions will be in your segment six months from now?
    Subjective feeling of business performance when compared with business expectations

    • Better – 48.1% ↓
    • Same – 50.0% ↑
    • Worse – 1.9% ↓
    3 - Business Climate Overview + Six Months - Winter 2022

    4. How would you guess revenue in your segment of the eDiscovery ecosystem will be six months from now?
    Revenue is income generated from eDiscovery-related business activities

    • Higher – 59.3% ↓ 
    • Same – 38.9% ↑
    • Lower – 1.9% ↓
    4 - Revenue Overview + Six Months - Winter 2022

    5. How would you guess profits in your segment of the eDiscovery ecosystem will be six months from now?
    Profit is the amount of income remaining after accounting for all expenses, debts, additional revenue streams, and operating costs

    • Higher – 40.7% ↓
    • Same – 50.0% ↑
    • Lower – 9.3% ↓
    5 - Profits Overview + Six Months - Winter 2022

    6. Of the six items presented below, what is the issue that you feel will most impact the business of eDiscovery over the next six months?
    Challenges that may directly impact the business performance of your organization

    • Lack of Personnel – 35.2% ↑
    • Increasing Types of Data – 18.5% ↓
    • Increasing Volumes of Data – 18.5% ↑
    • Budgetary Constraints – 18.5% ↑
    • Data Security – 7.4% ↑
    • Inadequate Technology – 1.9% ↓
    6 - Issues Impacting eDiscovery Business Performance - Winter 2022

    7. In which geographical region do you primarily conduct eDiscovery-related business?
    The location from which you are basing your business assessments

    • North America (United States) – 87.0% ↑
    • Europe (Non-UK) – 7.4% ↑
    • Europe (UK) – 3.7% ↓
    • Asia/Asia Pacific – 1.9.% ↓
    • North America (Canada) – 0.0% ↓
    • Central/South America – 0.0% ↓
    • Middle East/Africa – 0.0% =
    7 - Survey Respondents by Geographic Region - Winter 2022

    8. What are best describes your primary function in the conduct of your organization’s eDiscovery-related business?

    • Legal/Litigation Support – 79.6% ↑
    • Business/Business Support (All Other Business Functions) – 18.5% ↑
    • IT/Product Development – 1.9% ↓
    8 - Survey Respondents by Primary Function - Winter 2022

    9. What are best describes your level of support in the conduct of your organization’s eDiscovery-related business?

    • Executive Leadership – 53.7% ↑
    • Operational Management – 24.1% ↓
    • Tactical Execution – 22.2% ↑
    9 - Survey Respondents by Level of Support - Winter 2022

    Business Metric Trajectory Questions (Optional)

    10. How would you characterize the trajectory of your organization’s Days Sales Outstanding (DSO) during the last quarter?
    n=43 Respondents

    • Increasing – 41.9% ↑
    • Unfluctuating – 30.2% ↓
    • Decreasing – 7.0% ↓
    • Do Not Know – 20.9% ↓
    10 - eDiscovery Business Metric Trajectory - Days Sales Outstanding - Winter 2022

    11. How would you characterize the trajectory of your organization’s Monthly Recurring Revenue (MRR) during the last quarter?
    n=43 Respondents

    • Increasing – 51.2% ↑
    • Unfluctuating – 25.6% ↓
    • Decreasing – 2.3% ↓
    • Do Not Know – 20.9% ↑
    11 - eDiscovery Business Metric Trajectory - Monthly Recurring Revenue - Winter 2022

    12. Which of the following statements best describes the distribution of your organization’s revenue across your customer base during the last quarter?
    n=43 Respondents

    • Increasing – 44.2% ↓ 
    • Unfluctuating – 37.2% ↑
    • Decreasing – 4.7% ↓
    • Do Not Know – 14.0% ↓
    12 - eDiscovery Business Metric Trajectory - Distribution of Revenue Across Customer Base - Winter 2022

    Trend Notes

    • ↑ Increase from the last survey.
    • ↓ Decrease from the last survey.
    • = No change from the last survey.

    *Survey methodology has been updated to focus on achievement on approximately 50 responses with the least number of emails sent to the ComplexDiscovery database. This updated approach seeks to minimize the number of requests for participation in surveys while ensuring a solid number of responses from which to generally assess market sentiment in survey areas of interest.

    Past Survey Results

    13 - Survey Respondents (Individual and Aggregate Overview) - Winter 2022

    Source: ComplexDiscovery

     

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    ComplexDiscovery is an online publication that highlights cyber, data, and legal discovery insight and intelligence ranging from original research to aggregated news for use by cybersecurity, information governance, and eDiscovery professionals. The highly targeted publication seeks to increase the collective understanding of readers regarding cyber, data, and legal discovery information and issues and to provide an objective resource for considering trends, technologies, and services related to electronically stored information.

    ComplexDiscovery OÜ is a technology marketing firm providing strategic planning and tactical execution expertise in support of cyber, data, and legal discovery organizations. Focused primarily on supporting the ComplexDiscovery publication, the company is registered as a private limited company in the European Union country of Estonia, one of the most digitally advanced countries in the world. The company operates virtually worldwide to deliver marketing consulting and services.

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