dataroomlabs.info/5-uses-for-business-intelligence-tools-in-enterprise-organizations/
A data room is an secure physical or virtual space that is used to store confidential documents associated with high-risk business transactions such as mergers and acquisitions initial public offerings (IPO), and fundraising rounds. Only those who are involved in the transaction are able to access the information in the data room. These records can include financial information, legal agreements and intellectual property.
It is important to compare several vendors before you make a decision on a solution for due-diligence. This will help you identify which one offers the best combination of features for a price that suits your budget. Look for a provider that offers a variety of features to reduce friction and assist in running the project in a quick way, such as multilingual search, OCR, file previews, smart AI categories, and reporting.
If you've found a match, you can launch your data room and upload any important documents. Then, you can fulfill requests from participants, establish access permissions and check engagement. As the project progresses, you can add and delete files, change the folder structure, and then create new groups to manage the data more conveniently.
Virtual data rooms can help companies save money as opposed to physical rooms. A physical data room requires companies to pay for the space, employ security and reimburse buyers' travel and hotel costs when they review the documents. A virtual data room, in contrast can be hosted on the internet and accessible to people around the world thus reducing travel expenses and the overall cost of the project.