A virtual data solution provides one source of truth for all enterprise data that is immediately accessible to applications and analytics, without the cost, complexity and time required by traditional physical data warehouses or ETL. It blends a variety of data sources on-premises and in the cloud, transforms it into business-friendly views, and then delivers it to analytics and applications upon demand. With a single virtual repository, it eliminates duplicate data replication and decreases operational cost.
Due Diligence
When it comes to M&A transactions typically, both sides of the sell-side to be required to review documents to assess the potential deal. VDRs are ideal for this kind of data sharing because they provide a secure and organized environment to securely upload, view and review data. In addition, built-in features, such as watermarks, screenshot prevention and customizable permission options help to prevent leakage of confidential information throughout the negotiation process.
Life Sciences
The use of VDRs has become increasingly common in the pharmaceutical industry to ease the management of sensitive information. The demand for this technology is growing for other applications such as clinical trials, regulatory compliance and many more.
There are a variety of ways to select the best virtual data solution, including their pricing structure, feature sets and security capabilities. It is important that the vendor you select can meet your business’s requirements in terms of functionality, scalability and support. Most vendors offer a variety of different plans with various levels of features and sizes to cater to a variety of needs with a predictable and consistent cost.