To select the right Data Room solution that is suitable for your company first, you need to know what you want it to do. Different businesses will have different needs for their Data Room; from ensuring the security of information, improving relations with stakeholders and investors to making the management of documents more efficient, or helping with corporate transactions such as M&A deals and fundraising rounds.
Due diligence is the most typical use of a virtual Data Room during a business deal. If a company is looking to secure investment or is entering into strategic partnerships with other businesses and must go through a large amount of documentation. A Data Room is a secure location to share this information and accelerate the process of making a deal.
A well-designed Data Room will provide features that help with due diligence, including encryption of data both at rest and during transport Two-factor authentication; audit trails for all user activities; a variety permissions protocols and mechanisms to block unpermitted sharing or access. It will also permit you to redact sensitive data from documents. This can be a tedious task if you do it manually.
After a company uploads first-party data to a Data Clean Room they can create aggregated insights that are anonymous and deliver them to publishers, DSPs or ad networks to measure. For instance, a business could make use of an aggregated look-alike audience that was created in a Data Clean Room to target new customers in its Google advertising campaigns.
