Data lakes can help companies improve their R&D performance Companies can by allowing researchers to make more informed decisions regarding the wealth of highly complex data assets that feed advanced predictive and prescriptive analytics.
>Centralize disparate data generated from a variety of sources and run analytics and ML algorithms to be the first to identify business opportunities. For instance ? a biotechnology company can implement a data lake that receives manufacturing data ? research data ? customer Companies can support data ? and public data sets and provide real-time visibility into the research process for various user communities via different user interfaces.
The increasing need to quickly
Extract insights from data to stay ahead of the competition dataset while making the business future-proof is driving organizations toward data lake innovation. MarketsandMarkets reports that the global data lake market was valued at $7.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 20.6 percent by 2024 to reach $20.1 billion. Figures from Mordor Intelligence put the 2019 global data lake market at $3.74 billion and expects it to reach $17.60 billion by 2025 ? showing a 29.9 percent CAGR.
Regardless of the precise figures
Both calculations speak volumes about data lakes’ ability to help the ihl exclusion clause businesses optimize resources ? reduce operational costs ? and increase productivity. Are you taking advantage of this specialized technology?
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