What is the Value of a Data Lake?
23rd September 2020
At Data Clarity, we believe there is tremendous value in corporate data. Companies can maximise their data value using a data lake. If you are wondering what a data lake is, read our explainer article here.
Below we describe the ways that a data lake can help companies maximise the value of their data.
Data Lakes Complement Data Warehouses
The data lake is not a replacement for a data warehouse. The functionalities of the data lake and the data warehouse are complementary. For more on the differences between a data warehouse and a data lake, read our explainer article here.
As part of an Extract Transform Load (ETL) process, there’s data staging and cleansing, and then the data is loaded. Data warehousing provides temporal context around the various aspects of your business. That context cannot be replaced by a data lake.
How to Maximise your Data’s Value
IT managers are always looking to maximise the ROI of their data projects. By pooling corporate data into a data lake, there are more opportunities to recoup their technology investments and gain real value from data.
Taking advantage of data solutions such as ClarityNexus, and the ease of integrating disparate data sources such systems create, organizations are able to maximize the value of their data.
Having a data lake will facilitate rapid integration of additional metrics to statistical models. The data lake can also feed a traditional data warehouse, or it can load data from the warehouse to do a “mashup” against unstructured, non-relational data. Finally, the data lake’s place in the data organisation is potentially huge.
The ability to keep all historical data, to do complex statistical modelling, to integrate data sources and to enhance the data warehouse, a company can continuously innovate and maximise the business value generated from its data.
If you need help integrating data sources, our data experts will be happy to discuss your needs today.
