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What is a Data Sharing Tool?

By 12.10.2023No Comments

A data sharing tool is a solution that allows companies to share live, secure data with their business. This allows teams to address a wide range of critical business cases, including dissolving silos, speeding the process of completing projects, empowering collaboration with transparency of data, and uncovering new insights.

As enterprise IT applications expand and expand, the need for scalable solutions to real-time data sharing has become a requirement for achieving business objectives. From the behavior of visitors on websites to the signals from IoT devices in your workplace or power plant, the amount of data is growing exponentially and is generating an equally large amount of data integrations.

Many of these integrations are motivated by a desire to improve efficiency, performance or revenue streams. The key challenge is to move massive amounts of data from source to destination at a scale without losing their value. The traditional methods that are used, like SFTP and pre-signed URLs for objects and data movement via ETL processes, don’t scale to the volume of data required and are only applicable to a single vendor solution (e.g., Oracle, AWS Redshift, Snowflake).

There are a variety of solutions that could help with the issues of sharing real-time data. Particularly, a class of platforms that can comprehend the data they manage and act as a trusted intermediary between applications can help solve a lot of these issues. This shifts the responsibility of managing data flows onto the platform provider. It also speeds up and simplify the process of integrating data by removing the complicated retry-and-retransmission features of traditional tools.