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What is a Data Sharing Tool?

A data sharing tool allows companies to share live, secure data with their business. This enables teams to solve many critical business issues, including eliminating silos, speeding up the completion of projects, enabling collaboration with data transparency, and uncovering new insights.

Enterprise IT applications are growing, and reliable solutions for real-time data exchange have become vital to reach business goals. From website visitor behavior to the signals generated by IoT devices in your office or power plant, the amount of data is increasing exponentially and generating an equally large number of data integrations.

Many of these integrations are motivated by the desire to increase the efficiency of analytics, their performance, or revenue streams. The key challenge is how to transfer these huge volumes of data, on scale, from source to destination, without sacrificing its value. The conventional approaches, such as SFTP or pre-signed URLs of objects stored in the store, and data movement through ETL processes, don’t scale to the data volumes needed and are only applicable to a single vendor’s solution (e.g., Oracle, AWS Redshift, Snowflake).

To address the challenges of real-time data sharing, there are numerous solutions that are emerging. A specific class of platforms, which are aware of the data they contain and act as trusted intermediaries between apps can alleviate some of these problems. This shifts the burden of managing data flows to the platform provider. It can also speed up and make data integration easier by removing the complex retry-and-retransmission features of traditional tools.

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