To select the right Data Room solution that is appropriate for your company it is important to first understand what you’d like it do. Different companies will have different requirements for their Data Room; from ensuring data security, enhancing the governance of the company and its relationships with stakeholders and investors to making document management processes more efficient or supporting corporate transactions such as M&A deals and fundraising rounds.

The most frequent use for a virtual Data Room is to enable due diligence during a transaction. If a company is looking for investment or a strategic partnership with another organization it will need to review numerous documents. A Data Room offers a secure space to provide this information and accelerate the process of making a deal.

A good Data Room should have features that allow due diligence. These include data encryption in transit and in rest; two-factor identification; audit trails of all user activity as well as permissions protocols and mechanisms to stop unauthorised access or sharing. In addition, it will provide the ability to redact sensitive information from documents, which is difficult to accomplish when performed manually.

After a company uploads first-party data to a Data Clean Room they can create anonymous aggregated insights and send them to publishers, DSPs or ad networks to measure. For example, a brand could benefit from an aggregated look-alike population created in a Data Clean Room to target new customers in its Google advertising campaigns.

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