A data sharing tool is a piece of software that allows users to share the same data across several applications. This can be used to increase productivity and improve decision-making throughout your company. It can also be used to stimulate innovation and break down silos between departments.
Data-sharing software typically provides one source of truth to data from various sources, such as enterprise systems and IoT devices that provide signals as diverse as the behavior of a website’s visitors or power plant sensors. Data-sharing tools enable you to securely, logically and accurately share live data with internal business units and external business partners to cut costs and deliver improved customer experiences.
The most significant challenge in data sharing is the ever-increasing amount of data. For internal data sharing, the process of moving data from one black box to the next usually requires resource-intensive extract transform and load (ETL) operations. Maintaining the quality of data and best practices for data management has been a second problem.
The best data-sharing software should provide a scalable and efficient method of moving data between different locations without the need for ETL operations. It should also contain a rich set metadata to enable you to understand the significance of each dataset. It should also make use of an encrypted, secure protocol to transmit data and use persistent identifiers that allow you to quickly locate and retrieve data over time. It should also permit you to track the data being connected on a continuous basis and manage permissions, if needed.