How to Choose the Right Data Room Technology for Your Company

The first step to choosing the right Data Room solution that matches your business needs is to determine what you need it for. Data Rooms are utilized by various businesses for different reasons. They can be used to improve governance, establish relationships with investors and other stakeholders, as well as to streamline the management of documents.

Due diligence is the most frequent use of a virtual Data Room during a business deal. If a company is looking to secure investment or entering into strategic alliances with other organizations it is required to go through an extensive amount of documents. A Data Room can be a secure space to share this information and can speed up the process of negotiating.

A reliable Data Room should have features that allow due diligence. These include encryption of data in transit and at rest, two-factor authentication and audit trails of all user activity; permissions protocols and mechanisms to stop unauthorised access or sharing. Additionally, it can provide the ability to delete sensitive information from documents, which can be tedious when performed manually.

After a company has uploaded first-party data to a Data Clean Room they can create anonymous aggregated insights and provide them to DSPs, publishers or ad networks to measure. For instance, a brand could leverage an aggregated look-alike audience that was created in the Data Clean Room to target new customers in its Google advertising campaigns.

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