Content Assessment: An Economic Flash Freeze? Winter 2023 eDiscovery Business Confidence Survey Results
Information - 96%
Insight - 94%
Relevance - 95%
Objectivity - 98%
Authority - 94%
95%
Excellent
A short percentage-based assessment of the qualitative benefit of the post highlighting the business confidence of cybersecurity, information governance, and legal discovery professionals in the winter of 2023.
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.
Industry Survey
The Winter 2023 eDiscovery Business Confidence Survey Results
Final Results
The quarterly eDiscovery Business Confidence Survey has been administered twenty-nine times since early 2016, with 2,939 individual responses from eDiscovery industry professionals. The survey provides valuable insight into the current business confidence of cybersecurity, information governance, and legal discovery professionals in the eDiscovery ecosystem. Today ComplexDiscovery shares the observations and opinions of industry analysts and observers, reporters and communicators, and law firm and legal department experts and consultants on the eDiscovery business climate in the winter of 2023.
The winter 2023 survey response period was initiated on January 22, 2023, and continued until January 27, 2023. The survey was highlighted and promoted primarily by direct email from ComplexDiscovery and the EDRM to cybersecurity, information governance, and legal discovery professionals.
This quarter’s survey experienced a strong* response rate with 65 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 2023. 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 = 65 Respondents1. Which of the following segments best describes your business in eDiscovery?
Part of the eDiscovery ecosystem where your organization resides
Part of the eDiscovery ecosystem where your organization resides
- Law Firm – 33.8% ↑
- Software or Services Provider – 18.5% ↓
- Other – 16.9% ↑
- Consultancy – 13.8% ↑
- Corporation – 12.3% ↓
- Media/Research – 4.6% ↑
- Governmental Entity – 0.0% ↓
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 – 36.9.% ↓
- Normal – 56.9% ↑
- Bad – 6.2% ↑
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 – 29.2% ↓
- Same – 64.6% ↑
- Worse – 6.2% ↑
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 – 32.3% ↓
- Same – 56.9% ↑
- Lower – 10.8% ↑
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 – 23.1% ↓
- Same – 64.6% ↑
- Lower – 12.3% ↑
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
- Budgetary Constraints – 32.3% ↑
- Increasing Volumes of Data – 20.0% ↑
- Data Security – 15.4% ↑
- Increasing Types of Data – 13.8% ↓
- Lack of Personnel – 9.2% ↓
- Inadequate Technology – 9.2% ↑
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) – 92.3% ↑
- Europe (UK) – 4.6% ↑
- North America (Canada) – 1.5% ↓
- Asia/Asia Pacific – 1.5% ↓
- Middle East/Africa – 0.0% ↓
- Europe (Non-UK) – 0.0% ↓
- Central/South America – 0.0% =
8. What area best describes your primary function in the conduct of your organization’s eDiscovery-related business?
- Legal/Litigation Support – 76.9% ↓
- Business/Business Support (All Other Business Functions) – 20.0% ↑
- IT/Product Development – 3.1% ↓
9. What area best describes your level of support in the conduct of your organization’s eDiscovery-related business?
- Executive Leadership – 27.7% ↓
- Operational Management – 30.8% ↓
- Tactical Execution – 41.5% ↑
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=57 Respondents
- Increasing – 22.8% ↑
- Unfluctuating – 24.6% ↓
- Decreasing – 3.5% ↓
- Do Not Know – 49.1% ↑
11. How would you characterize the trajectory of your organization’s Monthly Recurring Revenue (MRR) during the last quarter?
n=57 Respondents
- Increasing – 15.8% ↓
- Unfluctuating – 28.1% ↑
- Decreasing – 12.3% ↑
- Do Not Know – 43.9% ↑
12. Which of the following statements best describes the distribution of your organization’s revenue across your customer base during the last quarter?
n=57 Respondents
- Increasing – 21.1% ↓
- Unfluctuating – 31.6% ↑
- Decreasing – 5.3% ↑
- Do Not Know – 42.1% ↑
Trend Notes
- ↑ Increase from the last survey.
- ↓ Decrease from the last survey.
- = No change from the last survey.
Past Survey Results
- Fall 2022 Survey (September 11 – September 22, 2022)
- Summer 2022 Survey (June 10 – June 27, 2022)
- Spring 2022 Survey (March 18 – March 23, 2022)
- Winter 2022 Survey (January 6 – January 12, 2022)
- Fall 2021 Survey (October 5 – October 12, 2021)
- Summer 2021 Survey (22 June – 6 July 2021)
- Spring 2021 Survey (28 March – 11 April 2021)
- Winter 2021 Survey (3 January – 12 January 2021)
- Fall 2020 Survey (21 September – 1 October 2020)
- Summer 2020 Survey (26 June – 10 July 2020)
- Spring 2020 Survey (2 April – 15 April 2020)
- Winter 2020 Survey (28 December 2019 – 11 January 2020)
- Fall 2019 Survey (29 September – 17 October 2019)
- Summer 2019 Survey (1 July – 17 July 2019)
- Spring 2019 Survey (1 April – 18 April 2019)
- Winter 2019 Survey (27 December 2018 – January 10, 2019)
- Fall 2018 Survey (14 October – 26 October 2018)
- Summer 2018 Survey (4 July – 24 July 2018)
- Spring 2018 Survey (7 April – 20 April 2018)
- Winter 2018 Survey (24 December 17 – 15 January 2018)
- Fall 2017 Survey (5 October – 17 October 2017)
- Summer 2017 Survey (6 July – 31 July 2017)
- Spring 2017 Survey (14 April – 1 May 2017)
- Winter 2017 Survey (20 January – 6 February 2017)
- Fall 2016 Survey (11 October – 1 December 2016)
- Summer 2016 Survey (1 August – 31 August 2016)
- Spring 2016 Survey (1 May – 31 May 2016)
- Winter 2016 Survey (15 February – 29 February 2016)
Respondent Backgrounder
Aggregate Surveys
Winter Surveys
Source: ComplexDiscovery
