Today’s businesses need to store and leverage massive volumes of data to solve complex business problems. Yet many organizations are still using costly legacy databases that simply cannot keep up with the pace of 2021’s data demands, resulting in missed opportunities and lost revenue.
Enter: the data lake.
What is a data lake?
A data lake is a powerful data architecture that allows you to store all structured and unstructured data in its raw format at any scale for a low cost. The data can then be easily pulled from the data lake for analytics and reporting.
If you’re still wondering, “why do I need a data lake?” read on to learn the five key benefits of a data lake for your business.
The Benefits of a Data Lake
1. A Data Lake is Scalable
A data lake is easy to scale up or down depending on the volume of data that businesses need to store, making it an excellent solution to the problem of ever-growing data today.
2. A Data Lake is Versatile
Unlike traditional data warehouses, a data lake can store and process data from a variety of sources and states, including multi-structured, structured, and unstructured data. The versatility of a data lake means all data from your organization can now be stored in one place.
3. A Data Lake Breaks Down Silos
A data lake allows all company data to be available throughout your entire organization because all raw data is now stored in one place. This helps break down the dreaded silos that exist between departments for more holistic decision-making when performing analytics.
4. A Data Lake is Cost-Effective
A data lake is one of the lowest cost solutions for company data storage. In fact, the total cost of implementing and running a data lake can be up to ten times lower than the cost of a traditional SQL-based system. This is because a data lake typically uses low-cost, commodity servers to scale, driving down costs.
5. A Data Lake is Timely
Unlike legacy databases, the data in a data lake can be streamed, viewed, and analyzed in almost real-time, which is key when extremely timely analysis is needed for business decisions.
If your business is losing time and money running on legacy data architecture that is slow, outdated, and inefficient, contact Temberton Analytics today to learn how we can save you valuable resources by building the best solution for you, just as we have for our clients for over 25 years.