What is a Data Sharing Tool?

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A data sharing tool allows companies to share live, secure data with their business ecosystem. This allows teams to solve critical business cases such as breaking down silos and accelerating project completion. It also empowers collaboration by ensuring transparency in data and opens up new insights.

As enterprise IT applications expand and become more complex, the need for solutions for real-time sharing of data is a necessity in achieving business outcomes. From the behaviour of visitors to the signals generated by IoT devices in your office or power plant, the amount of data is growing exponentially and generating an equally large number of data integrations.

Many of these integrations are driven by the desire to improve the efficiency of analytics, their performance, or revenue streams. The main issue is how to transfer these huge volumes of data, on scale, from source to destination, without sacrificing its value. The standard approaches include SFTP and pre-signed URLs for objects, and data movement through ETL processes, aren’t scalable to the amount of data required and are only applicable to a single solution from a single vendor (e.g., Oracle, AWS Redshift, Snowflake).

There are many solutions that can help address the issues of sharing real-time data. Particularly, a set of platforms that are aware of the data they manage and serve as a trusted intermediary between different applications can help to alleviate a number of these issues. This shifts the responsibility of managing data flows to the platform provider and can accelerate and simplify data integration by removing many of the complicated Retry and Re-Transmission features that are standard in traditional tools.