Legal Managed Services
Understanding predictive coding requires a brief introduction to the phenomenon of Big Data and its impact on e-discovery. "Big Data" has become a term of art in information science, referring to massive stores of raw data gathered around just about anything, including people or market patterns. Enabled by exponentially increased storage capacity and mining technology, companies gather and analyze their Big Data through predictive coding to gain a competitive advantage and enhance their products and services.
Companies like Google® and Facebook® monetize Big Data as their primary revenue streams by generating customized ads tailored to a given user by analyzing consumer trends, demographic information, personal transactional data, and much more. Financial analytics can process silos of historical data and make predictions regarding market behavior. Years of analyzing the human genome yielded Big Data that catapulted medical research into uncharted territory. And Big Data is a part of our daily business lives, as inboxes have rapidly expanded in volume, requiring businesses to adopt aggressive data retention and archiving policies.