A Watch List in Data Studio is a feature that lets you flag high-risk companies in your portfolio. A Watch List can be applied to an entire portfolio, and every company that is in that portfolio will have a note on the business report to show they are on the Watch List. If a user has applied a Watch List to a portfolio, any business that is in that portfolio will be flagged for all users to see, regardless of whether this portfolio has been shared or not. 

Within a Watch List, you can enable two settings: 

Warning List - Standard Company Match (Always Active with Watch List)

When Watch List is enabled a notification will automatically display on a company's business report if the company is included in this portfolio.

Extended Director Check

If the company does not return a notification, perform an extended check on the directors of the company you're viewing, reviewing if they hold a position on any companies in your portfolios with Watch List enabled.

For guidance on how to create a watch list, please view this article.