Dynamic data from external database - display in several WP sites

I have looked at similar questions, they don't seem to answer my specific question.

I have an external database (not using tables in the WP database).

I have several sites that need to pull dynamic data from the DB.

Plugin Insert PHP seems to allow me to do this in nearly the same way as i would do it in a HTML page. (Using the plugin's PHP syntax)

Is this a good solution? Is there a better one?

Anything else I need to consider?

Thanks ColinK