DRD's mission is to help organizations and law firms understand the true value of arbitration and mediation through the availability and application of data. The data, which is aggregated and presented by 28 different case types and by geographic region, adds immense value to the field of dispute resolution. While there are myriad uses for DRD's data and data visualization tools--for parties as diverse as law schools, insurance companies, and dispute resolution institutions--there are four significant value areas we would like to highlight.
First, DRD's data offers evidence of value. This evidence is particularly important for third party funders and insurance companies, who will have additional risk analysis tools with which to weigh the use of arbitration and mediation. Aggregated data, which provides a comprehensive picture of the arbitration landscape, will also be essential for governments considering dispute resolution, for law schools who need access to up-to-date information about the field of international arbitration and mediation, and for corporations assessing dispute resolution clauses.
Second, DRD adds value by helping dispute resolution providers improve their process. Through the "Contributor View," data contributors are able to view their own metrics and accurately assess the strengths and weaknesses of their own process. They can make data-driven decisions about areas for growth by looking at their own data, and by comparing their data to regional and global averages. This may result in changes to rules or guidelines consistent with their findings and analysis.
Third, DRD’s innovative data application does more than provide raw data--it offers visualizations that communicate data more powerfully than facts and figures can alone. Ryan Boyle, VP of Statistics and Analytical Research at the American Arbitration Association, attested to the power of these visualizations, saying, “[DRD has] cutting edge technology, and their visualizations are very compelling. You can get data many places, but this is a picture. I still appreciate seeing something that tells a story.”
Finally, DRD adds value to the field of dispute resolution by helping to establish norms. For arbitration and mediation institutions there will be heretofore unavailable norms to which institutions can compare themselves. These norms will help to improve dispute resolution processes globally.
Each of these areas of added value arise from non-confidential data that has been gathered from dispute resolution institutions around the world. The data aggregated and offered by DRD goes beyond benefits to individual arbitral institutions--it adds significant value to the field of dispute resolution as a whole.