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What are some of the data-related challenges that businesses face?

Using data ineffectively is a long-standing problem for businesses at any scale that have failed to fully adopt digital transformation within their organizations. These businesses either use legacy and disparate systems across silos or utilize insufficient tools and software, making it increasingly difficult to collect, store and organize data in a way that is accessible and usable.  Outcomes of the lack of a modern, unified analytics data platform and the inability to effectively utilize data vary by industry.

What is a data lake?

Data lakes, in simple terms, are central depositories designed to store, process, and secure large amounts of structured, semi-structured, and unstructured data. Data lakes can store data in its native format and process any variety of it without size limitations.

What are some key differences between a data warehouse and a data lake?

Unlike data warehouses which are better suited for a pre-defined set of questions to be answered, data lakes store unprocessed and unfiltered data in its original format, which enables users to have discoverability across multiple data types and explore rather than present preset insight.

What are the major benefits of data lakes for businesses at any scale?

In addition to being a relatively low-cost solution to store any and all data, data lakes have certain benefits to businesses at any scale, such as data democratization, simplified data management, and accelerated machine learning.

Author: Osman Avcı

Published on: Sep 8, 2022