Forbes.com runs a story entitled “The Data Explosion” (via The Datakos Blawg) which profiles H5 and reports some amazing dollar figures associated with e-discovery projects today. My favorite quote is from the second paragraph:
“Corporations are evidence machines, generating terabytes of electronic documents, e-mails and digitally recorded phone calls each year. Lawyers try to sift through all this dross in search of the smoking gun that can determine the outcome of a case. But, so say studies by library scientists and others, the lawyers aren’t very good at sifting. Worn down by the anesthetizing process of flipping through thousands of digital images a day, they miss as much as they find.”
The story touches on a couple of well-known e-discovery stories and profiles H5 as having 250 employees and taking in over $60 million in contracts during the fiscal year that ended June 30. The Forbes story provides an interesting peek inside an e-discovery company and reports that H5 charges an average of $10 million per case.
Granted, H5 is working on some of the more major e-discovery projects out there, but that’s still a lot of money per project.