Definition of Data Sharing
The practice of making data available to other organizations or departments.
Explanation of Data Sharing
Data sharing refers to the practice of making data available to others, either within an organization or with external partners, for analysis and decision-making. This practice enhances collaboration, transparency, and innovation by allowing multiple stakeholders to access and use data. Data sharing can be facilitated through various means, such as APIs, data platforms, and secure data transfer protocols. Ensuring data privacy, security, and compliance with regulations is crucial when sharing data. Effective data sharing requires clear policies, governance, and agreements to protect data and ensure its appropriate use. By sharing data, businesses can leverage collective insights and drive value creation.