To select the right Data Room solution that is right for your business first, you need to know what you’d like it to accomplish. Different businesses will have different needs for their Data Room; from ensuring information security, improving governance and relationships with stakeholders and investors, to making the management of documents more efficient or supporting corporate transactions such as M&A deals and fundraising rounds.
The most frequent use for the virtual Data Room is to enable due diligence during a transaction. When a company is searching for investment or a strategic partnerships with another company it will need to review lots of documents. A Data Room provides a secure place to communicate this information and accelerate the process of making a deal.
A good Data Room will provide features that help with due diligence, including: data encryption at rest and in transit with two-factor authentication, audit trails for every user’s activities; a variety of permissions protocols; and mechanisms to block unpermitted sharing or access. It will also allow you to erase sensitive data from documents. This is a laborious task if it is done manually.
After a company uploads first-party data to a Data Clean Room they can create aggregated insights that are anonymous and provide them to publishers, DSPs or ad networks for measurement. A company, for instance, could use an aggregated audience of similarity that are created in a Data Clean Room in order to reach new customers through its Google advertising campaigns.
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