What is a Data Sharing Tool?

Managing files software

A data sharing tool enables companies to share secure, real-time data with their community. This allows teams to tackle a wide range of critical business challenges, such as breaking down silos, accelerating project completion, encouraging collaboration through data transparency and gaining new insights.

Enterprise IT applications are expanding and robust solutions for real-time data exchange have become essential to meet business objectives. From website visitor behavior to the data from IoT devices in your office or power plant, the amount of data is growing exponentially and is generating an equally huge number of data integrations.

Many of these integrations are driven by the desire to improve analytics, efficiencies and revenue streams. The biggest challenge is to move these massive amounts of data, at scale, from source to destination, without sacrificing its value. The traditional methods like SFTP and pre-signed URLs for object stores, and data migration through ETL processes don’t scale up to the amount of data needed and are only applicable to a single vendor (e.g. Oracle, AWS Redshift or Snowflake).

There are a variety of solutions that can address the challenges of sharing real-time data. Particularly, a category of platforms that understand the data they store and act as a trusted intermediary between applications can help solve a lot of these issues. This shifts the burden of managing data flows to the platform provider. It can simplify and speed up data integration by eliminating many of the complicated Retry and Re-Transmission features that are standard in traditional tools.