Since January 2016, more than 1,900 individual responses to seventeen quarterly eDiscovery Business Confidence surveys have been received from legal, business, and technology professionals across the eDiscovery ecosystem. This spring survey will provide important insight into the business confidence of executive leaders, operational managers, and tactical execution professionals as we collectively seek to understand the impact of the current global COVID-19 pandemic on the business of eDiscovery.
The Predictive Coding Technologies and Protocols Survey is a non-scientific survey designed to help provide a general understanding of the use of predictive coding technologies, protocols, and workflows by data discovery and legal discovery professionals within the eDiscovery ecosystem.
In the winter of 2020, 51.4% of survey respondents feel that revenue in the next sixth months will be higher than today. This percentage is higher than feelings on this metric in the fall of 2019 (39.3%) and the summer of 2019 (41.6%) and represents a strong rebound rating for this metric as it is the highest rating in this area since the fall of 2018.
In the winter of 2020, 25.3% of respondents to the quarterly eDiscovery Business Confidence Survey viewed increasing data types as potentially having the greatest business impact on their business in the next six months. This percentage is the highest of all concerns represented in the survey and also is the third time in seventeen surveys that this issue has been rated as the top concern by eDiscovery professionals. This is also the highest percentage of survey respondents viewing increasing types of data as a top concern since the inception of the survey.
In the winter of 2020, 124 eDiscovery Business Confidence Survey participants chose to answer at least one of the optional business operational metric survey questions in the quarterly survey. Almost 35% (34.7%) of survey respondents reported Monthly Recurring Revenue (MRR) as increasing in the winter of 2020. This is a solid increase from approximately 25% (24.8.%) reporting MRR as increasing in the fall of 2019.
This is the seventeenth quarterly eDiscovery Business Confidence Survey conducted by ComplexDiscovery. More than 1,900 individual responses have been received from legal, business, and technology professionals across the eDiscovery ecosystem since the inception of the survey and 146 respondents shared their opinions as part of the winter 2020 survey.
First administered in December of 2018 and conducted three times during the past calendar year with 229 individual responses, the semi-annual eDiscovery Pricing Survey highlights eDiscovery pricing on selected collection, processing, and review tasks. The aggregate results of all surveys as shared in comparative charts may be helpful for understanding pricing and its impact on purchasing behavior on selected services over time.
Based on the complexity of data and legal discovery, it is a continual challenge to fully understand what is representative of industry-standard pricing for the delivery of eDiscovery products and services. With this challenge in mind, the semi-annual eDiscovery Pricing Survey is designed to provide insight into eDiscovery pricing through the lens of 15 specific questions answered by legal, business, security, and information professionals operating in the eDiscovery ecosystem. The winter 2020 survey was open from November 19, 2019, until November 29, 2019, and had 80 respondents share their understanding of the pricing of eDiscovery services.
In the fall of 2019, 141 eDiscovery Business Confidence Survey participants chose to answer at least one of the optional business operational metric survey questions in the quarterly survey. Almost 25% (24.8%) of survey respondents reported Monthly Recurring Revenue (MRR) as increasing in the fall of 2019. This is a solid decrease from approximately 33% (32.7%) reporting MRR as increasing in the summer of 2019.
In the fall of 2019, only 38.7% of eDiscovery Business Confidence Survey respondents feel that business climate conditions will be better in six months. This is slightly lower than sentiment in the summer of 2019 where 39.9% of survey respondents felt that the business conditions would be better in six months. However, it is the lowest rating in this area since the inception of the survey and may indicate a continued cooling of business conditions.