Unlocking the Business Value of the Data Lake

During this webinar where we’ll discuss how nearly three-fifths of organizations have gained competitive advantage from their data lake initiatives. That includes unleashing the intelligence-generating potential of a data lake that enables ad hoc data discovery and analytics in an open and flexible manner.

Transcript

1. Unlocking the Business Value
   of the Data Lake
   Matt Aslett
   VP & Research Director
   @ventanaresearch In/ventanaresearch
   blog.ventanaresearch.com
   © 2022 Ventana Research
   How Open and Flexible Cloud Services
   Help Provide Value from Data Lakes
   

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2. © 2022 Ventana Research
   Data Lake
   

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3. The Business Imperative for Data Lakes
   • Nearly three-fifths (59%) of
   organizations have gained
   competitive advantage from their
   data lake initiatives.
   • Almost half (49%) cite improved
   customer experience, and lowered
   costs (45%).
   • Better communication and
   knowledge sharing and faster
   response to opportunities and threats
   are also potential benefits.
   © 2022 Ventana Research
   

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4. Departmental Benefitting from Data Lakes
   • Data lakes do not need to address
   the entirety of an organization.
   • Many organizations start in a
   specific department to prove the
   technological and business value
   and promote the benefits to build
   momentum.
   • Marketing, customer service,
   sales and finance are
   departments that benefit from
   data lakes.
   © 2022 Ventana Research
   

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5. Flexible
   Data structure
   Adaptable
   Multiple use-cases
   Technical Benefits of Data Lakes
   © 2022 Ventana Research
   Low cost
   Cloud storage
   

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6. Accelerated Migration to Cloud
   • Cloud lowers the time taken to
   commission, configure and deploy
   data infrastructure and software.
   • Cloud facilitates experimentation
   and innovation and lowers the cost
   (per GB) of storing and processing
   large volumes of data.
   • Almost three-quarters (74%) of
   organizations currently use, or
   are planning to use, cloud for
   analytics and data workloads.
   © 2022 Ventana Research
   

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7. © 2022 Ventana Research
   Through 2025, 7 in ten organizations will be using cloud
   object stores as the primary persistence store for
   analytic data platform workloads.
   

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8. Data Lakes and Data Warehouses
   • Data lakes have not, by and large,
   displaced data warehouses, which
   continue to be deployed.
   • Early data lake projects lacked the
   structured data management and
   processing functionality
   established in data warehousing.
   • More than two-thirds (67%) of
   organizations employ both, with
   many feeding data between the
   two environments.
   © 2022 Ventana Research
   

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9. © 2022 Ventana Research
   Through 2024, data warehouse, data lake and data
   streaming technologies will converge to create analytic
   data platforms enabling organizations to collect and
   analyze all types of operations-generated information.
   

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10. Storing large amounts of water in
    a lake is not enough to generate
    energy from that water.
    A hydroelectric power station is
    required to harness and unleash
    the power-generating potential of
    water in a lake or reservoir.
    Analogy: Hydroelectric Power Station
    © 2022 Ventana Research
    

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11. Hydroelectric power relies on a
    combination of turbines,
    generators, and transformers to
    convert the energy of the flowing
    water into electricity.
    The equivalent of those turbines,
    generators, and transformers is
    required to harness and unleash
    the intelligence-generating
    potential of data in a data lake.
    Analogy: Hydroelectric Power Station
    © 2022 Ventana Research
    

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12. Table formats
    Updates and
    deletes
    Additional Functionality
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    SQL engines
    Query concurrency
    and performance
    Metadata
    Metadata management
    and self-service discovery
    File formats
    Columnar storage
    and schema
    

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13. Hydroanalytic Approaches
    Multiple approaches to delivering
    hydroanalytic data platforms:
    • deploying a data warehouse on
    or alongside the data lake
    • integrating DW functionality into
    the data lake (data lakehouse)
    Both are available as
    pre-integrated cloud services or
    can be assembled from
    open-source software and cloud
    services.
    © 2022 Ventana Research
    

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14. Open source Open formats
    Openness and Choice
    © 2022 Ventana Research
    Open cloud
    

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15. Multiple Clouds and Hybrid-IT
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    • Modern IT architecture spans
    multiple cloud providers as well as
    on-premises data centers.
    • Almost one-half (49%) of
    organizations are using cloud
    computing for analytics and
    data, of which 42% are currently
    using more than one cloud
    provider.
    

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16. By 2024, more than three -quarters of current data lake
    adopters will be investing in data lakehouse technologies
    to improve the business value generated from the
    accumulated data.
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17. Recommendation
    © 2022 Ventana Research
    Reevaluate data lake use-cases
    • The incorporation of structured data-processing functionality with data lakes
    provides a direct alternative to the data warehouse as use cases evolve and
    mature.
    • All organizations—but especially those with data lake investments that are
    failing to deliver on their potential—should consider the evolution of the data
    lake in the context of additional functionality.
    • Data-driven organizations stand to gain competitive advantage, responding faster
    to worker and customer demands for more innovative, data-rich applications and
    personalized experiences.
    

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18. Engage and Learn More on Analytics and Data
    Twitter
    @ventanaresearch
    @maslettvr
    LinkedIn
    http://www.linkedin.com/company/ventana-research
    https://www.linkedin.com/in/matt-aslett/
    My Analyst Perspectives
    https://mattaslett.ventanaresearch.com/
    Participate in Analytics and Big Data Research
    https://www.ventanaresearch.com/benchmark/big_data/big-data-for-business/survey
    https://www.ventanaresearch.com/benchmark/analytics/analytics_and_data/survey
    Learn More about Data and Analytics
    https://www.ventanaresearch.com/data
    https://www.ventanaresearch.com/analytics
    © 2022 Ventana Research
    

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19. Unlocking the Business Value
    of the Data Lake
    Matt Aslett
    VP & Research Director
    @ventanaresearch In/ventanaresearch
    blog.ventanaresearch.com
    © 2022 Ventana Research
    How Open and Flexible Cloud Services
    Help Provide Value from Data Lakes
    

    View Slide