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Legacy system integration is a solution allowing to overcome described drawbacks. The main idea behind legacy system integration is to expose your current system’s data to the enterprise-wide software solution or the cloud that can be achieved through APIs. The increased compatibility of your legacy system with new applications can also allow you to transform previously collected information into the currently used formats. This feature of legacy system integration can facilitate the usage of earlier unavailable data and enable the application of AI and ML algorithms.
Please read the article Don’t Let Your Data Get Rusty. The Importance of Legacy System Integration to know more about the benefits of the approach.