Sun. Sep 25th, 2022
    en flag
    nl flag
    et flag
    fi flag
    fr flag
    de flag
    he flag
    ja flag
    lv flag
    pl flag
    pt flag
    es flag
    uk flag

    Content Assessment: Cooler Temperatures? Fall 2022 eDiscovery Business Confidence Survey Results

    Information - 97%
    Insight - 95%
    Relevance - 98%
    Objectivity - 98%
    Authority - 95%

    97%

    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 fall of 2022.

    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 Fall 2022 eDiscovery Business Confidence Survey Results

    Final Results

    The quarterly eDiscovery Business Confidence Survey has been administered twenty-eight times since early 2016, with 2,874 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 fall of 2022.
     
    The fall 2022 survey response period was initiated on September 11, 2022, and continued until September 22, 2022. 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 100 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 fall 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 = 100 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 – 33.0% ↓
    • Law Firm – 33.0% ↑
    • Corporation – 16.0% ↑
    • Consultancy – 6.0% ↓
    • Governmental Entity – 5.0% ↑
    • Other – 4.0% ↑
    • Media/Research – 3.0% ↑
    1 - Survey Respondents by Organizational Segment - Fall 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 – 56.0% ↓
    • Normal – 41.0% ↑
    • Bad – 3.0% ↓
    2 - Current Business Climate Overview - Fall 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 – 37.0% ↓
    • Same – 58.0% ↑
    • Worse – 5.0% ↓
    3 - Business Climate Overview + Six Months - Fall 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 – 49.0% ↓
    • Same – 45.0% ↑
    • Lower – 6.0% ↓
    4 - Revenue Overview + Six Months - Fall 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 – 30.0% ↓
    • Same – 58.0% ↑
    • Lower – 12.0% ↓
    5 - Profits Overview + Six Months - Fall 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  
     
    • Increasing Types of Data – 28.0% ↓
    • Budgetary Constraints – 25.0% ↑
    • Lack of Personnel – 16.0% ↓
    • Increasing Volumes of Data – 16.0% ↑
    • Data Security – 11.0% ↑
    • Inadequate Technology – 4.0% ↓
    6 - Issues Impacting eDiscovery Business Performance - Fall 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) – 88.0% ↑
    • North America (Canada) – 4.0% ↑
    • Asia/Asia Pacific – 3.0% ↑
    • Europe (UK) – 2.0% ↑
    • Middle East/Africa – 2.0% ↑
    • Europe (Non-UK) – 1.0% ↓
    • Central/South America – 0.0% ↓
    7 - Survey Respondents by Geographic Region - Fall 2022

    8. What area best describes your primary function in the conduct of your organization’s eDiscovery-related business?  
     
    • Legal/Litigation Support – 77.0% ↑
    • Business/Business Support (All Other Business Functions) – 17.0% ↑
    • IT/Product Development – 6.0% ↓
    8 - Survey Respondents by Primary Function - Fall 2022

    9. What area best describes your level of support in the conduct of your organization’s eDiscovery-related business?  
     
    • Executive Leadership – 37.0% ↓
    • Operational Management – 34.0% ↓
    • Tactical Execution – 29.0% ↑
    9 - Survey Respondents by Level of Support - Fall 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=89 Respondents  
     
    • Increasing – 22.5% ↓
    • Unfluctuating – 31.5% ↑
    • Decreasing – 7.9% ↓
    • Do Not Know – 38.2% ↑
    10 - eDiscovery Business Metric Trajectory_ Days Sales Outstanding - Fall 2022

    11. How would you characterize the trajectory of your organization’s Monthly Recurring Revenue (MRR) during the last quarter?
    n=89 Respondents
     
    • Increasing – 34.8% ↓
    • Unfluctuating – 25.8% ↑
    • Decreasing – 5.6% ↓
    • Do Not Know – 33.7% ↑
    11 - eDiscovery Business Metric Trajectory_ Monthly Recurring Revenue - Fall 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=89 Respondents  
     
    • Increasing – 30.3% ↑
    • Unfluctuating – 28.1% ↓
    • Decreasing – 4.5% ↓
    • Do Not Know – 37.1% ↑
    12 - eDiscovery Business Metric Trajectory_ Distribution of Revenue Across Customer Base - Fall 2022

     Trend Notes
     
    • ↑ Increase from the last survey.
    • ↓ Decrease from the last survey.
    • = No change from the last survey.
    *Survey methodology focuses on the achievement of at least 50 responses with the least number of emails sent to the ComplexDiscovery industry professional database. This 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) Fall 2022
     
    Source: ComplexDiscovery
     
     

    Complete Presentation: Market Kinetics – eDiscovery Business Confidence – Fall 2022 (PDF) – Mouseover to Scroll

    0 - Business Confidence - 092222

     

    Have a Request?

    If you have information or offering requests that you would like to ask us about, please let us know and we will make our response to you a priority.

    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.

    Leaning Forward? The CISA 2023-2025 Strategic Plan

    The purpose of the CISA Strategic Plan is to communicate the...

    Continuous Risk Improvement? Q3 Cyber Round-Up From Cowbell Cyber

    According to Manu Singh, director of risk engineering at Cowbell, "Every...

    A Comprehensive Cyber Discovery Resource? The DoD Cybersecurity Policy Chart from CSIAC

    The Cyber Security and Information Systems Information Analysis Center (CSIAC) is...

    Rapidly Evolving Cyber Insurance? Q2 Cyber Round-Up From Cowbell Cyber

    According to Isabelle Dumont, SVP of Marketing and Technology Partners at...

    Revealing Response? Nuix Responds to ASX Request for Information

    The following investor news update from Nuix shares a written response...

    Revealing Reports? Nuix Notes Press Speculation

    According to a September 9, 2022 market release from Nuix, the...

    Regards to Broadway? HaystackID® Acquires Business Intelligence Associates

    According to HaystackID CEO Hal Brooks, “BIA is a leader in...

    One Large Software and Cloud Business? OpenText to Acquire Micro Focus

    According to OpenText CEO & CTO Mark J. Barrenechea, “We are...

    On the Move? 2022 eDiscovery Market Kinetics: Five Areas of Interest

    Recently ComplexDiscovery was provided an opportunity to share with the eDiscovery...

    Trusting the Process? 2021 eDiscovery Processing Task, Spend, and Cost Data Points

    Based on the complexity of cybersecurity, information governance, and legal discovery,...

    The Year in Review? 2021 eDiscovery Review Task, Spend, and Cost Data Points

    Based on the complexity of cybersecurity, information governance, and legal discovery,...

    A 2021 Look at eDiscovery Collection: Task, Spend, and Cost Data Points

    Based on the complexity of cybersecurity, information governance, and legal discovery,...

    Five Great Reads on Cyber, Data, and Legal Discovery for September 2022

    From privacy legislation and special masters to acquisitions and investigations, the...

    Five Great Reads on Cyber, Data, and Legal Discovery for August 2022

    From AI and Big Data challenges to intriguing financial and investment...

    Five Great Reads on Cyber, Data, and Legal Discovery for July 2022

    From lurking business undercurrents to captivating deepfake developments, the July 2022...

    Five Great Reads on Cyber, Data, and Legal Discovery for June 2022

    From eDiscovery ecosystem players and pricing to data breach investigations and...

    Cooler Temperatures? Fall 2022 eDiscovery Business Confidence Survey Results

    Since January 2016, 2,874 individual responses to twenty-eight quarterly eDiscovery Business...

    Inflection or Deflection? An Aggregate Overview of Eight Semi-Annual eDiscovery Pricing Surveys

    Initiated in the winter of 2019 and conducted eight times with...

    Changing Currents? Eighteen Observations on eDiscovery Business Confidence in the Summer of 2022

    In the summer of 2022, 54.8% of survey respondents felt that...

    Challenging Variants? Issues Impacting eDiscovery Business Performance: A Summer 2022 Overview

    In the summer of 2022, 28.8% of respondents viewed increasing types...

    Nuclear Options? Ukraine Conflict Assessments in Maps (September 17 – 21, 2022)

    According to a recent update from the Institute for the Study...

    Mass Graves and Torture Chambers? Ukraine Conflict Assessments in Maps (September 12 – 16, 2022)

    According to a recent update from the Institute for the Study...

    On The Run? Ukraine Conflict Assessments in Maps (September 7 – 11, 2022)

    According to a recent update from the Institute for the Study...

    Tangible Degradation? Ukraine Conflict Assessments in Maps (September 2 – 6, 2022)

    According to a recent update from the Institute for the Study...