Data Clean Rooms
Enabling Secure Data Sharing.Data sharing is complex and fraught with compliance constraints. Yet, organizations must share data to facilitate internal operations and provide tailored customer experiences. How do you reconcile the increased demand for data with data protection? 2nd Watch can help by implementing a data clean room.
A data clean room allows parties to securely share and analyze data by granting control over when, where, and how said data is used. Each party agrees upon access, availability, and data usage, while a trusted data clean room handles data governance.
With data clean rooms, brands can access crucial and much-needed information while maintaining compliance with data privacy policies.
Advertising
Share anonymized demand and sales information to improve cross-platform targeting.
Healthcare
Provide a higher standard of care without compromising patient details.
Insurance
Protect PII, such as social security numbers, financial account numbers, and transactional data.
Media and Entertainment
Enable reach and frequency measurements, cross-platform attribution, and audience discovery.
Private Equity
Conduct due diligence across potential acquisitions while maintaining data security.
Key Features of a Data Clean Room
Data Ingestion
Data is funneled into the data clean room, including first-party data from websites, applications, CRMs, etc., and second-party data from collaborating parties, such as ad networks, partners, and publishers.
Connection and Enrichment
Ingested data sets are matched at the user level. At this point, tools like third-party data enrichment complement the data sets.
Analytics
The data is analyzed for intersections/overlaps, measurement/attribution, and propensity scoring. Data is only shared where the data points intersect between the two parties.
Application
Each party now has aggregated data outputs and can form the necessary business insights to optimize the customer experience, perform reach and frequency measurements, build effective cross-platform journeys, conduct marketing campaign analysis, and more.
The modern world runs on data.
Whether sharing data among business departments or with external third parties, data security is paramount to ensure ongoing data collaboration. A data clean room can offer the peace of mind you need.
However, as with any data security initiative, there are risks. If the implementation is not done correctly, a “dirty” data clean room can lead to losing customer trust, incurring fines from government agencies, inadvertently oversharing proprietary information, and locking out valuable data requests due to a lack of process. This is why a trusted data clean room implementation partner is a must.
2nd Watch’s expert data consultants can unlock data for your users while helping you to remain privacy compliant. Especially in the era of user privacy and data protection, data clean rooms are becoming all the more relevant. Contact us today to discuss how a data clean room can benefit your business.
