You’re Being Sued. Do You Know Where Your Data Is?

http://ow.ly/7m5PW

An article by Christina DesMarais posted on inc.com.

This article discusses the ediscovery industry and describes why it is important to the business community.

The article states, ""E-Discovery is a complicated, messy process," says Andrew Sieja, founder and CEO of Chicago-based kCura, a company that makes software called Relativity that manages the processing, review, and analysis of data. "The collection phase involves the snatching of data from, say, the laptops of 50 different people. It requires experts to really understand where to pull data from the network." And then there's the task of reviewing it. That's when companies rack up about 70 percent of the costs, says Barry Murphy, principal analyst with eDJ Group, an Austin, Texas-based research firm that specializes in e-Discovery."

The article further states, "Research firm Gartner says the e-Discovery market is growing at a compounded annual growth rate of 14 percent and is estimated to reach $1.7 billion by 2014, but eDJ's Murphy says that number could be much higher when you account for proactive information management—things like software for records management, e-mail archiving, and legal hold management tools. "I would say it's upwards of $5 billion when you add in all the services and tools.""

The author also provides four questions to ask:

Here are four questions every business owner needs to ask:

• If I use a cloud storage vendor, what kinds of retention policies are in place?
• What kind of access to data am I going to have?
• If I need to hire a service provider to help with e-Discovery, what technologies are they using?
• How much are they going to charge me to process and review that data?