Data clean rooms: Share your corporate data fearlessly
Data sharing has become more complex, both in its application and our relationship to it. There is a tension between the need for personalization and the need for privacy. Businesses must share data to be effective and ultimately provide tailored customer experiences. However, legislation and practices regarding data privacy have tightened, and data sharing is tougher and fraught with greater compliance constraints than ever before. The challenge for enterprises is reconciling the increased demand for data with increased data protection.
Data collaboration
Data collaboration is entrenched in our business processes. Therefore, rather than avoiding it, we must find the tools and frameworks to support secure and privacy-compliant data sharing.
So how do we govern the flow of sensitive information from our data platforms to other parties?
THE ANSWER
Data clean rooms are the modern vehicle for various data sharing and data governance workflows. Across industries – including media and entertainment, advertising, insurance, private equity, and more – a data clean room can be the difference-maker in your data insights.
A WORD OF CAUTION
Data clean rooms can get messy without a proper data strategy. There are several considerations for you to take during the implementation process. In this whitepaper, we’ll discuss the workings and benefits of a data clean room and how you can keep it clean with a robust data strategy.
A data clean room is a framework that allows two parties to securely share and analyze data by granting both parties control over when, where, and how said data is used. The parties involved can pool together data in a secure environment that protects private details. With data clean rooms, brands can access crucial and much-needed information while maintaining compliance with data privacy policies.
Benefits of a data clean room
Insurance company
You can harness policyholder data to build larger pools of customers to improve insurance services. You can grow the pool of policyholders by marketing within compliance standards using data clean rooms.
Media Company
You can use data clean rooms as a way to provide custom solutions to marketers. You can offer your advertisers a privacyfriendly way to reach your audience and gain valuable customer insights.
Retail Business
You can feed your data clean room with your CRM data, unique identifiers, and purchase dates. From there, each media owner can include their own unique identifiers and exposure data used to create a campaign audience and ultimately reach more engaged, ready-to-buy shoppers without compromising customer security.
Advertiser
You can upload your first-party data into a clean room after running a campaign, align identical key identifiers, and analyze your customer data and ad exposure data from the data clean room provider.
Data clean rooms are beneficial for the following reasons
Enriching your partner’s data set.
With data clean rooms, you can collaborate with your partners to produce and consume data regarding overlapping customers. You can pool common customer data with your partners, find the intersection between your business and your partners, and share the data upstream without sharing sensitive information with competitors.
Creating governance within your enterprise.
Data clean rooms provide the framework to create a data mesh, where sensitive data can remain in protected source systems while still being leveraged by partners. You can create a golden record encompassing all the data in every system of records within your organization.
Remaining policy compliant.
In a data clean room environment, you can monitor where the data lives, who has access to it, and how it is used with a data clean room. This allows you to share data and remain compliant with all the important acronyms: GDPR, HIPAA, CCPA, FCRA, ECPA, etc.
Consult with Ollion
Ollion can be your data clean room guide, helping you to establish a data mesh that enables sharing and analyzing distributed pools of data, all while maintaining centralized governance. Schedule time to get started with a data clean room!