What does the Richness Rate (Range) indicate?

The Richness Rate (Range) is a key metric used to evaluate the effectiveness of document analysis in a project. It specifically measures the percentage of documents that are relevant based on a sample. This metric is valuable because it provides insight into the quality and relevance of the documents within the dataset being analyzed. A high richness rate indicates that a significant portion of the documents included in the sample are relevant to the project's objectives, while a lower richness rate might suggest that the documents may not be as relevant, requiring additional analysis or refinement of the dataset.

In the context of legal and compliance projects, understanding the richness rate helps in assessing the overall efficiency of the information retrieval process and guides subsequent review efforts. By focusing on the relevancy indicated by this rate, project managers can make informed decisions about resource allocation and strategy moving forward. This further underscores the utility of the richness rate as a tool for evaluating the success of document selection criteria and improving project outcomes.