Data lakes flow with business opportunities

CIOs are soaking up the chance to drive business change using cloud-based data lake technologies.

The world's cities are littered with large red brick warehouse buildings either crumbling into disrepair or that have been repurposed into living and office space. The buildings were rejected as storage of goods moved from sacks that needed to be hoisted on the crane jibs built into their walls, to the container, which in turn created new ports outside of cities and transformed logistics. Data warehouses could become the technology equivalent to the city centre warehouse you see in Amsterdam or London, as they are being replaced by the data lake.

Data lakes provide CIOs and organisations with an increased fluidity to how they ingest and manage data. Lakes create ecosystems in the natural world, bringing together feathered, furred and scaled animals. Organisations pushing off into data lake waters are finding a wealth of ecosystems that they can channel into their lake and in doing so, their own environment thrives.

"Across all vertical markets, organisations are recognising that they need data to drive advantage and we have seen the adoption of data lakes increase in the last 12 months," says Sacha Tomey, CTO and Director of Adatis, a data analytics specialist in Sofia and the UK.

Driving this growth is a business-wide understanding of the importance of data in discovering market opportunities. Some sectors are seeing margins decrease as a result of low-cost entrants and/or online rivals. For other verticals, globalisation and changing customer behaviour requires an increased focus and understanding of the customer or to improve the business operations.

Research by business intelligence provider MicroStrategy found that 38% of organisations had their entire analytics capability in the cloud and that 60% of the surveyed organisations had a Chief Data Officer (CDO), thus increasing the demand for the ability to access and interrogate data.

Demand for data lakes is likely to continue, 59% of organisations plan on hiring data analysts and 65% of UK CIOs report "improved efficiency and productivity" from their analytics use, the MicroStrategy findings report.


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