What is the role of AWS Data Exchange?

The role of AWS Data Exchange is critical as it enables organizations to easily exchange and share data with third parties. This service allows users to securely access and subscribe to third-party data sources, facilitating the integration of external data into their applications for analytics, machine learning, and other uses. By using AWS Data Exchange, businesses can optimize their decision-making processes and enhance their offerings without needing to directly manage the complexities of data collection and maintenance from external providers.

The other options do not accurately represent the primary functionality of AWS Data Exchange. Merging databases is a different process that pertains to database management rather than data sharing. Creating backups is covered by other AWS services designed for data protection and disaster recovery. Monitoring network traffic is a function typically associated with AWS services focused on security and performance, rather than data exchange and integration capabilities.