Consider using one of our Secure Data Rooms for your business

Modern businesses are very connected with the development of the Internet and technology. As a result, even the most classic industry has undergone thousands of changes due to the dynamic environment.

Collecting customer information has long been a component of the business system and earnings. However, it is important not only to get the data but also to store it safely and use it rationally (read, analyze and draw conclusions) so that users have minimal guesswork about it.

What data do companies analyze in their VDRs?

The processing of customer information may include the following items:

  • Purchase history. By default, a business cannot collect information about purchases at the checkout: the sale occurs anonymously. But with the help of discount cards and applications, companies identify the user with each buy and analyze which products he prefers, which he adds to his favorites, and whether he participates in promotions.

  • Biometric data. Biometrics includes unique characteristics of a person: face, voice, fingerprints, and retina. Banks, for example, collect biometrics in branches, and to transfer data, it is enough for applications to allow access to the camera and microphone.

  • Behavior in other services. Data collection about activities in other services begins after the installation of the application. The system asks the user for permission to analyze his actions. At the same time, in iOS, for example, there is no clear prohibition on data collection: the user “asks” the application not to analyze his actions.

The task of the business is to use the collected data to motivate the client to buy and increase the cost of the order.

What happens if you do not pay attention to data protection?

So, undoubtedly, most businesses collect information about customers and analyze it. But what happens if the data of your buyers and customers are lost?

At best, you will lose your reputation. It’s painful and can take a long time to get back. Sometimes companies have to make major changes to regain customers’ trust.

In the worst case, you will lose money (except your reputation). Dissatisfied customers can sue your company, and they will be right. Having won the case, they can demand huge compensation. Such situations have happened with large corporations such as Google, for example.

How does VDR solve this problem?

Virtual data rooms are services that help you avoid most of the problems described above. In addition, these programs force users to follow internal security regulations, eliminating the possibility of information loss due to employees’ negligence.

VDRs are securely protected – for this; they use cryptographic keys, several levels of authentication, data encryption, and access control for various employees.

Inside the VDR, you can not only analyze client data but also hold meetings, make deals, and store and transfer data. You can find more useful information about VDRs here: It’s a web-site about best worlds virtual data rooms.