What Are Data Lakes Used For? [Top 5 Reasons]

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One of the most frequently asked questions of every 7 out of 10 company owners’ is “what are data lakes used for?”. If you are also looking for this answer, then stay with us as this article aims to give this vital answer so that you have a clear concept.

So, what is a data lake? It is a storage depository that can preserve a large volume of raw data in its original form until the system requires it. Moreover, it can store all kinds of data without any conditions and constraints.

It also allows for fast and easy data access and retrieval, thus saving a lot of time and effort, which can be spent in doing other vital works. In fact, it has all the qualities that make it a perfect choice for managing a large amount of information. Keep reading to know in detail.

What Are Data Lakes Used For? [Top 5 Reasons]

Technology is advancing rapidly, and along with it, the importance of data is increasing at full-on speed. In fact, in today’s world, data is compared to having money. That’s why it is vital to have a well-organized data management system for staying one step ahead of others by gaining the most profit.

This is where data lakes can play a role in your business by managing your data in the most effective possible way. Nowadays, many kinds of data lake tools are also available to efficiently manage the data lake and improve business Artificial Intelligence (AI) and Machine learning(ML). So, without further delay, let us talk about the things for which data lakes are used.

1. Decision-Making

One vital reason for which data lakes is largely used is that it plays a crucial role in the decision-making system (DSS). We know the decision-making largely depends on the quality of the data. The more the data is accurate and precise, the more fruitful decision can be taken.

The data lakes never comprise the data quality as its top-most priority is to manage the data effectively. In fact, in a recent survey, it is found that the companies that have implemented a data lake have been able to increase their profits by 12% in just one year difference.

The only reason behind this profit was the use of data lakes in their business. Through the use of data lakes, their organization’s data was managed effectively, which in return help the decision-maker make the best decision. Such as identifying their business strengths, lacking, which strategy to use to drive more customers for increasing sales, etc.

Moreover, it allows running analytics without requiring to shift the data to a different analytics system. Thus, saving both time and effort that would have been needed in moving these data.

2. No Data Loss

Data loss is a very worrying thing for every kind of business. As every company has piles of data stored in their storage system, each having essential information. Usually, for storing different types of data, several resources are required. This is where the data lakes’ use can play a vital role in protecting the data.

By using the data lake, several resources’ involvement decreases as they can preserve various kinds of data in a single location. As the less resource involved, the less the risk of data loss becomes. For which the companies don’t need to worry about the loss of data anymore. Therefore, no data loss is one of the crucial points for which the companies broadly use the data lakes’.

3. Storage

Along with storing a large volume of data, it can store all kinds of relational data and non-relational in their original format without any kind of constraints, such as operational databases, mobile applications, hypermedia, Internet of things (IoT) devices and social media, etc.

Moreover, the data lakes’ usage helps to understand what type of data is held in the storage system by data crawling, tagging, and labeling.

4. Machine Learning (ML)

The use of data lakes helps the companies to produce various kinds of visions. Such as reporting on past records of data and then applying machine learning algorithms to predict probable results.

Moreover, based on these predictions, it helps to arrive at a range of recommendations to gain the best possible outcome. In fact, it is another leading reason behind the use of data lakes in a business.

5. Data Transfer

Another specialty of the data lake is that it stores the data in a single storage location. For which the transfer of data in the system becomes fast and very easy to handle. In fact, it is one of the main reasons for which businesses largely use the data lakes.

Therefore, these are the following top reasons why the data lakes are used largely in an organization.

Conclusion

Hopefully, by going through this article, you have now understood what are data lakes used for. Data lakes offer a smoother and smarter method for effective data management, analysis, storage, etc.

In fact, it can provide all kinds of benefits to a company, data administrators, data analysts, and processors. That’s why its implementation is also increasing at an incredible pace due to the enormous benefits it can offer to companies.

Therefore, you must also use data lakes if you have not yet started using them to get the most out of your business.