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A virtual data room or data room is a cloud solution especially made for the secure storing and sharing of confidential business information. Data rooms offer specific sets of features such as advanced permissions, Q&A tool, notes and bookmarks, as well as multiple factor authentication and watermarking. Although virtual data rooms are traditionally employed for financial transactions, IPOs and real estate asset lifecycle management, their use cases have been expanding over the past decade. Potentially any business concerned with the secure and specialised management of its documentation can turn towards data rooms. Today, data room providers are increasingly building machine learning technology into their software, thereby enlarging their offer to include tools such as automatic document translation, findings management and automatic red flag analysis.