|By PR Newswire||
|February 4, 2014 07:30 AM EST||
NEW YORK, Feb. 4, 2014 /PRNewswire/ -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today announced that its FTI Technology business segment is launching Version 8.4 of its award-winning Ringtail® e-discovery software. Built in close collaboration with leading law firms and corporate attorneys, Ringtail is the only visual predictive coding software for legal review. Ringtail's new features strengthen users' ability to train the predictive coding model for optimum efficiency and cost savings. Ringtail 8.4 will be available to Ringtail on-demand, on-premise and SaaS (Software-as-a-Service) users in March 2014.
Ringtail 8.4's features address two key challenges in the use of predictive coding: starting quickly without sacrificing quality and knowing when it is time to stop training the predictive coding model. Advanced active learning features enable users to begin training Ringtail's predictive coding model using smaller training sets. This means that instead of conducting costly human review on thousands of training documents, Ringtail users can begin the process by simply coding a hundred documents, or more, as preferred by the matter team. From there, the active learning functionality uses the coded materials to determine the best documents with which to continue training the predictive coding model. Using a new and intuitive model training dashboard, Ringtail users can now understand the productivity gains realized by each additional training document to better determine when to stop training and use the model to predict the data set. In addition, Ringtail 8.4 includes an enhanced visualization so users can better understand the stability and consistency of the predictive coding model.
"The ability to begin training the model quickly, combined with understanding the best time to end training, can provide significant cost savings and efficiencies to our team," said Caroline Sweeney, Global Director, E-Discovery and Client Technology for Dorsey & Whitney LLC. "In addition to the visual predictive coding functionality already within Ringtail, these new features provide a powerful solution that balances cost savings with defensibility for our clients."
Ringtail 8.4 also includes enhancements to improve scale and performance for its global client base, including a new French user interface for both reviewers and administrators, as well as improved batch printing functionality.
"One of the reasons our firm chose Ringtail is that the software's predictive coding is easy to use and understand," said Duane Lites, Director of Litigation Support for Jackson Walker L.L.P. "We appreciate the user-focused design and workflow within Ringtail and believe it will be an important component of our e-discovery client service."
Ringtail's predictive coding delivers a unique visual approach to the process of creating and training a classifier to code large document sets quickly and defensibly. The application includes an intuitive workflow, visual validation of a model's performance and a projections matrix. This matrix enables teams to examine recall and precision targets and weigh them in context with the costs and benefits of the corresponding review volumes. The predictive coding functionality is supported by statistical sampling, as well as Ringtail's visual analysis and review capabilities.
"Predictive coding is a complex process, which is why our global development team is focused on creating an intuitive and easy-to-use predictive coding application," said Howard Edson, a Managing Director on the Product Management team in the FTI Technology segment. "With these new feature enhancements, we believe that the Ringtail approach to predictive coding — defensible predictive coding functionality wrapped with an integrated and visual user interface — provides a great opportunity for legal teams to fully leverage the power and promise of predictive coding technology."
FTI Technology was named as a "leader" in Gartner's "Magic Quadrant for E-Discovery Software" report (Debra Logan, Alan Dayley, Sheila Childs, June 10, 2013). From its award-winning Ringtail software to its Acuity™ managed review service, FTI Technology helps clients streamline the entire e-discovery process and provides a single point of e-discovery accountability. Altogether, FTI Technology provides a comprehensive approach to improve the e-discovery process, contain costs without cutting corners and manage critical enterprise information demands.
FTI Technology will provide Ringtail product demos in Booth 2110 at the LegalTech New York 2014 conference on February 4-6, 2014.
For more information on Ringtail or FTI Technology, please visit www.ftitechnology.com.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 4,100 employees located in 25 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The company generated $1.58 billion in revenues during fiscal year 2012. More information can be found at www.fticonsulting.com.
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SOURCE FTI Consulting, Inc.