What is a Data Sharing Tool?

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A data sharing tool is a piece of software that allows users to share the same data across multiple applications. This can be utilized by your organization to improve decision-making and boost productivity. It can also help foster innovation and eliminate silos between departments.

Data-sharing software typically offers the same source of truth for data coming from different sources, including enterprise systems and IoT device signals such as the behavior of a website’s visitors or power plant sensors. Data-sharing tools let you securely, logically and effectively share real-time data with internal and external business units to lower expenses and enhance customer service.

The biggest issue in sharing data has been the shifting of increasing data volumes. Transferring data from one blackbox to another is costly for internal data sharing. Maintaining the quality of data and best practices for data governance has been a separate problem.

The most effective data-sharing software must provide a flexible and efficient method of moving data between different locations without the need for ETL operations. It will also be able to support a variety of formats for data exports and come with a comprehensive set of metadata that helps you easily understand the meaning and context of each dataset. It should also utilize an encrypted, secure protocol to transmit data and use persistent identifiers to allow you to easily locate and retrieve the data over time. It should also permit you to monitor the data being connected on a daily basis and manage permissions, if needed.