It’s time for the Winter 2024 eDiscovery Business Confidence Survey, published (as always) on Rob Robinson’s terrific Complex Discovery site. Where does the confidence of individuals working in the eDiscovery ecosystem stand when compared to previous surveys?  Let’s see.

As always, Rob provides a complete breakdown of the latest survey results, which you can check out here. I’ve covered every quarterly survey since its inception, which is starting its ninth(!) year!

While I’m continuing to look at all surveys conducted to look at trends over time, I’m displaying a rolling three years’ data for clarity as the entire history of eight years makes for a very crowded graph. Also, I should note that Rob reported results with two decimals again this quarter instead of the traditional single decimal (my reporting of the results are rounded to one decimal for consistency with previous quarters).

Last fall, Rob added new questions regarding the use of large language models and generative AI, so this is the second survey with those questions. I’m reporting on the results of one of those questions this time (in case you missed Rob’s coverage) and dropping trends coverage for the level of support question that I’ve covered over the years. Assuming that the LLM and gen AI questions continue, I’ll begin to report on trends over time for those.

The Winter 2024 eDiscovery Business Confidence Survey response period was between January 15 and February 15, 2024. This quarter’s survey saw an even 100 eDiscovery professionals sharing their opinions on the business of eDiscovery. So, let’s get into it!

Providers at The Top Again: Software and/or Services Provider respondents were the sole leading group for the third quarter in a row with 41% (5.3% above the lifetime average, but a 2.8% drop from last quarter). Law Firm respondents remained at second at 29% (1.8% below the lifetime average). Consultancy was third at 16% (just below the 16.3% lifetime average). If you count law firms as providers (they’re technically both providers and consumers), providers account for 86% of total respondents (3.2% higher than last quarter). Corporation respondents were fourth at 5%, 3.2% lower than the lifetime average of 8.2%.  Here’s a graphical representation of the trend over the last twelve surveys:

So, how confident is a provider influenced group of respondents in eDiscovery business confidence in the Winter 2024 eDiscovery Business Confidence Survey?  See below.

Current Business Rebounds a Bit: After sliding for two quarters in a row, respondents that considered business to be good rose back up to 54% (1.1% above the lifetime average). Another 42% of respondents consider business to be normal (3.6% above the lifetime average). 4% of respondents rated business conditions as bad (4.6% below the lifetime average of 8.6%). Here is the trend over the last twelve surveys:

So, do respondents in the Winter 2024 eDiscovery Business Confidence Survey expect business to rise in six months?  See below.

Same as it Ever Was?: 96% of respondents expect business conditions will be in their segment to be the same or better six months from now (up 2.2% from last quarter’s 93.8%, but half of respondents expect it to be the same. 45% expect business to be better (a big drop last quarter) while 49% expect it to be the same (leaving 6% expecting lower revenues). As for profits, respondents expecting higher profits dropped 7.8% to 36% (which is 3.4% lower than the lifetime average of 39.4%), while (you guessed it!) 50% expected flat profits and 14% expected lower profits (1.5% higher than the average and virtually the same as last quarter’s 14.1%).  Here is the profits trend over the last twelve surveys:

Will we head higher or lower from here?  We’ll see.

The Strong, Silent “Type”: Had to look up new “type” puns! Increasing Types of Data continued at the top spot with 30%, which is 9.4% above the lifetime average of 20.6% and the ninth time in ten quarters at (or tied) for top spot. Budgetary Constraints remained at second with 23% (2.9% lower than the lifetime average). Increasing Volumes of Data and Data Security were tied for third with 16% (4.4% below the lifetime average for the former, but 3.8% above the lifetime average for the latter and the highest since Summer 2018!). Lack of Personnel was fifth at 9% (4.7% below the lifetime average), Inadequate Technology fell back to its customary sixth place at 6% (1.2% lower than the lifetime average of 7.2%. The graph below illustrates the distribution over the last twelve surveys:

Will any issue ever top Increasing Types of Data again? We’ll see.

Delivery Improves in the Second Results on LLM/GAI Benefits: See what I did there? Regarding the question “which do you perceive as the primary benefit of integrating LLMs and GAI into your organization’s operations or offerings?”, Improved Service/Product Delivery was the top choice at 41%, which improved (now you do!) more than 5% over last quarter’s 35.94%, followed by Competitive Advantage at 19%, slightly higher than last quarter’s 18.75% and Cost Savings also at 19%, more than 8% higher than last quarter’s 10.94%. Enhanced Decision Making at 9% was WAY lower than last quarter’s 20.31%, with Risk Mitigation fifth at 9%, nearly 6% higher than last quarter’s 3.13%. Only 3% see No Perceived Benefit!

Looks like the Winter 2024 eDiscovery Business Confidence Survey shows respondents being cautious, with most expecting things to stay the same. What will happen next quarter? Check back here!

Again, Rob has published the results for the Winter 2024 eDiscovery Business Confidence Survey on his site here, which shows responses to additional questions not referenced here.  Check them out.

So, what do you think?  Are you optimistic about eDiscovery business?  Please share any comments you might have or if you’d like to know more about a particular topic.

Image created using Bing Image Creator Powered by DALL-E, using the term “robot walking along a snowy path”.

Disclaimer: The views represented herein are exclusively the views of the author, and do not necessarily represent the views held by my employer, my partners or my clients. eDiscovery Today is made available solely for educational purposes to provide general information about general eDiscovery principles and not to provide specific legal advice applicable to any particular circumstance. eDiscovery Today should not be used as a substitute for competent legal advice from a lawyer you have retained and who has agreed to represent you.