Get ready – you will soon receive (if you haven’t already) a press release from every e-discovery vendor that’s been mentioned in the Sixth Annual (2008) Socha-Gelbmann Electronic Discovery Survey.
While the full survey will set you back a few thousand, George and Tom graciously provide an overview of the results through Law Technology News. You can view a sneak peek preview of the results on www.eddupdate.com (with some juicy comments at the bottom), and the full story entitled “Mining for Gold” is the cover story of the August issue of Law Technology News.
Some of the most valuable data out of the Socha-Gelbman Survey is the numbers on the overall e-discovery market:
Based on our research, we estimate that in 2007 commercial expenditures on EDD [electronic data discovery] topped $2.7 billion, up 43% from 2006, and that they will grow by 21%, 20% and 15% in 2008, 2009, and 2010.
The rankings of the top overall e-discovery software and service providers were not all that surpring to me personally – the list hasn’t changed too much in the last few years save for a few companies that hop around on the list. FTI Consulting Inc. again garnered some of the top spots in the list due to their heightened activity in the industry including some recent acquisitions.
While these lists are some of the best you can find in relation to e-discovery service and software providers, please heed the warning from George Socha and Tom Gelbman:
… we cannot emphasize too much that these still are generalized rankings. Anyone who makes buying decisions primarily on these rankings or any other generalized rankings is a fool. Although as part of your selection process you might choose to consider these rankings, … you really should conduct an analysis that focuses on your specific needs. No generalized set of rankings will do this for you.
Link to story.