WEBINAR Blog: How Data Analytics Can Transform Today’s Complex Investigations Investigations practices today are broken. With complex investigations often exceeding $100m, it is clear that the traditional approach of ‘throwing bodies at the problem’ isn’t sustainable. Data analytics technology has the power to transform this – adding a level of efficiency and analytical consistency that even hundreds of researchers cannot match. Compliance and investigations professionals from around the world tuned into the recent Exiger Live Stream to hear our expert panel’s perspectives on the opportunities this technology-enabled approach to investigations presents, and how to overcome adoption challenges. Key Highlights Investigations today: an outmoded model Regulatory pressures and the sheer quantity of data available to researchers have only increased over the past 15 years. But investigations practices have not kept pace. Resourcing investigations with hundreds of researchers conducting manual document review is no longer sustainable if costs aren’t to escalate and if you are to meet regulatory requirements. To join the dots across millions of data points and find meaningful conclusions, our panelists agreed that data analytics technology was the answer to conduct sustainable investigations. Adoption: how to frame data analytics? Framing technology as a document management system rather than a way to augment analytical and creative thinking has been a common barrier to adoption. Widespread adoption of analytical innovation is also challenged by organisations relying on outmoded solutions to new challenges. Tales from the frontline: experiences of using data analytics & regulatory perspective Accounts of cases where our panelists used data analytics to find solutions to new problems, such as using predictive coding as a time-saving, cost-effective alternative to slower, traditionally labour-intensive modes of eDiscovery. Panelists also discussed their differing experience of how regulators view data analytics – with the SEC in the United States seeming receptive, but data privacy legislation leaving European regulators sceptical. Practical Recommendations Key guidance from our panelists included: Know your data: data analytics comes in many forms. The first stepping stone to using these technologies efficiently in investigations is to match them to the data sets and questions that are unique to the case. Understand your audience: it is crucial to know who’s on the other side of the table and establish cost, time, and value goals accordingly, particularly when conducting investigations for regulators. Combine technology with an experienced investigator: when an experienced, highly-skilled investigator applies their investigative approach to a massive quantity of data through analytics tools, they can build a meaningful and comprehensive narrative out of disparate pieces of information. For more information, watch the below replay from our June 26, 2017 live stream. VIEW BIO Sed ac libero nisi. Proin scelerisque sapien ligula, a varius libero posuere eget. Donec sit amet ipsum ornare, aliquet ex vel, sodales dui. Nam a justo ultricies, tincidunt enim at, egestas nulla. Praesent justo dolor, faucibus a scelerisque at, sagittis convallis est. Quisque posuere, orci quis vulputate ullamcorper, lectus sapien posuere nisl, suscipit gravida augue sapien id massa. The risk landscape is constantly changing. Hear about the latest with Exiger. Who We Help FI Compliance, Risk & Operations Corporate Compliance & Legal FinTechs Investment & Fundraising Teams Residence & Citizenship Programs Public Sector Solutions Supply Chain Risk Management AI-Powered Advisory Solutions Third Party Risk Management Managed Services Technology AI-Powered eDiscovery DDIQ DDIQ Analytics Insight 3PM ScreenIQ Who We Are Our Story In the News Management Team Professionals Join The Team Exiger WINs Exiger Cares Want To Get In Touch? CONTACT US JOIN THE TEAM © 2020 EXIGER | Privacy and Legal Center