Data lake is a widely adopted platform, and it is favored by large enterprises that generate substantial amounts of data. One of the key reasons for its popularity is the provision of a comprehensive and authoritative data store that adds value to businesses through valuable insights. A study predicts that the market for data lakes will reach USD 13 billion in 2023 and expand at a CAGR of 22% to reach USD 37 billion by 2028.
Why Choose Data Lake For A Business?
Unlike other solutions that are available in the market, Data Lake allows its users to import real-time data irrespective of its size in a hassle-free way. Therefore, organizations can simply collect data in its original form from various sources and move it into the data lake without any constraints.
On the other hand, enterprises achieve seamless scalability to accommodate large data while designing data structures, schemas, and transformations quickly. Organizations using data lakes will successfully generate business value from their data.
According to an Aberdeen survey, organizations that adopted data lake outperformed similar companies by 9% in organic revenue growth. If you're considering using data lake for your enterprise, here are the top 10 uses that it offers alongside the perfect blend of innovation, technical prowess, and experience.
Top 10 Enterprise Uses Of Data Lake
The potential uses of data, when combined with the power of Data Lake, are immense. The top 10 enterprise uses of Data Lake are listed and then elaborated below, read on to learn more:
- Data integration and consolidation
- Data analysis and processing
- Data governance and security
- Data integration and interoperability
- Agile data processing and faster insights
- Cost-effective data storage
- Self-service data access
- Scalability and flexibility
- Improved data quality
- Tools Integration
1. Data Integration and Consolidation
When there are volumes of diverse data sets which includes structured, semi-structured and unstructured data, then it is ideal to have a data lake in place to handle them effectively and efficiently. Data lakes centralized repository provides the bandwidth to scale data volumes and glean reliable insights to make informed decisions.
2. Data Analysis and Processing
Data Lake offers Data analysis and processing for gleaning data and processing. Gain valuable insights, identify patterns, to make data-driven decisions by applying tools such as machine learning, artificial intelligence, and data visualization. Also, analyze real-time anytime of the day for quick valuable insights.
3. Data Governance and Security
Protect the data from malicious attacks external and internal by using top-level data protection tools. Data encryption model enables concealing information’s true form. Stay confident, the data is stored, managed and accessed in the most safest, secure, and compliant way.
4. Data Integration and Interoperability
Data lakes allow integrating data from several disparate sources to provide a unified view of the data. Further, it supports enterprise interoperability (EI) which makes it easy for interactions between enterprise systems.
5. Agile Data Processing and Faster Insights
Businesses can quickly process and analyze massive amounts of data in real time. Quicker insights enable decision-making hassle-free because of the data processing speed, which is essential in the current fast-paced business environment. A variety of data processing technologies, like Apache Spark and Hadoop, which enable parallel processing of data and produce faster insights, are supported by data lakes.
6. Cost-effective Data Storage
Data lakes support storing and managing volumes of data at affordable costs. Store data in its original form and do away with the financial challenges of pricey data transformation and processing. Besides these, cloud systems like Amazon Web Services, Microsoft Azure, and Google Cloud, which offer a cost-effective solution to store and manage data, can easily be deployed on data lakes.
7. Self-service Data Access
Self-service data access enables users to access the data without assistance from the enterprise's IT department. The Self-service data access lessens the burden on the IT team; thereby, allowing them to focus on more essential tasks and strategies. Data lakes offer a single source of truth for the data, guaranteeing that all users may access the same information, lowering the risks of data silos.
8. Scalability and Flexibility
Data lake enables enterprises with the scalability and flexibility aspects that they need to adapt to their data management needs. Data lake can effortlessly be scaled to meet the growing needs for data processing and storage as data volumes increase. Over the top, numerous data sources and data kinds are supported by data lakes, making it extremely flexible and adaptive for enterprises.
9. Improved Data Quality
Data lake lets enterprises perform data cleansing and validation tasks on incoming data to improve the data quality. Stay assured the data is reliable, accurate, and fresh, making well-informed decisions. Incorporate data management tools like data warehouses, databases and data catalogs to create a comprehensive data management ecosystem and enjoy better data management capabilities.
10. Tools Integration
With Data lakes it is easy for enterprises to incorporate data catalogs, data warehouses, databases and other data management tools. This empowers them to achieve a complete data management ecosystem. Unlock the possibilities to harness the power of different data management tools and management capabilities.
Data lake can store data generated in enterprises as-is-streaming, semi-structured, relational, and structured. Built to facilitate business analytics, AI/ML, advanced and prescriptive analytics, and more, a data lake resolves issues such as data integration, inaccessibility, multiple formats, multiple protocols, and massive data storage.
Businesses can stay confident they have all their data in one safe place. Accessing it to derive key insights, predictions, and models to improve processes, proactively address equipment maintenance, optimize output, and deliver high-quality products is easy. For more insights on how data lake can benefit your enterprise talk to our experts today.