To select a Data Room solution that is appropriate for your business it is important to first understand what you’d like it for it to do. Different businesses will have different needs for their Data Room; from ensuring data security, enhancing the governance of the vdr for secure document sharing company and its relationships with investors and stakeholders to making the process of managing documents more efficient or assisting in corporate transactions such as M&A deals and fundraising rounds.

Due diligence is the most typical application of a virtual Data Room during a business deal. When a company is searching for an investment or entering into a strategic partnership with another organization the company must go through many documents. A Data Room provides a secure environment to share this information and accelerate the process of making a deal.

A well-designed Data Room will provide features that allow due diligence, including encryption of data both at rest and during transport with two-factor authentication, audit trails for every user’s activity; a variety of permissions protocols and mechanisms to prevent unpermitted sharing or access. It will also permit you to erase sensitive data from documents. This can be a time-consuming task if it is done manually.

When a business uploads 1st party data into a Data Clean Room, they can then develop aggregated insights with no individual identifiers and send them to an advertiser, DSP or an ad network to measure. For example, a brand could use an aggregated look-alike audience created in a Data Clean Room to target new customers in its Google advertising campaigns.