What is a Data Sharing Tool?

Data sharing tool allows you to share the same set of data across multiple applications and users. This tool can be used by your business to improve decisions and increase productivity. It can also be used to foster innovation and break down silos between departments.

Data-sharing software typically offers one source of truth to data from various sources, such as enterprise systems and IoT device signals as diverse as the behavior of a website’s visitors or power plant sensors. Data-sharing software allows you to safely, efficiently and accurately share live data with internal business units and external partners of the company to cut costs and improve customer service.

Historically, the most challenging issue with data sharing has been shifting ever-growing data volumes. For internal data sharing, the process of moving datasets from one black box to another typically involves resource-intensive extract, transform and load (ETL) operations. Maintaining the quality of data and best practices for data governance has been a further challenge.

The best software for sharing data will allow you to transfer data between locations efficiently and in a fluid, flexible way without the need to perform ETL operations. It should also offer an extensive set of metadata that will help you understand the meaning of each dataset. It should also use a secure, encrypted protocol to transmit data and use persistent identifiers so that you are able to easily locate and retrieve the data over time. Lastly, it should enable you to track how data is being connected to on a continuous basis and enable you to manage permissions as required.


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