The presumption here is that the device is not the exclusive consumer of the data in question, or that samplings must be taken at a different rate than the other device requires. Generally, for a given sensor in a single-consumer application, standard connection methods will suffice. A caching MCU is a good way to deal with this. If you need to perform some type of averaging function in it, you can do this here. A timer ISR in that MCU can provide the data to the other device at that specified rate (UART, I2C, CAN, Ethernet, etc), or the other device can signal via interrupt when it wants the data and perform an appropriate transaction.