The creation and implementation of data lakes is perceived as the only feasible solution to tackle the big data challenge facing businesses
Data lakes make it easier for businesses to make crucial business decisions in real-time
Organizations who implemented data lakes outperformed their competitors by more than 9% in organic revenue growth
Quantzig, a leader in delivering scalable analytics and data science services, announced the completion of its recent article, a Q&A compilation that offers comprehensive insights on the common pitfalls in data lake implementation and also sheds light on how data lakes help businesses drive real-time decisions.
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Driving Decisions with Data Lakes: Three Pitfalls to Avoid (Graphic: Business Wire)
Capitalizing on your most significant, ever-growing asset, i.e., ‘data’ is of utmost importance for driving revenue, cash flows, and performance. Contact us to schedule a free consultation, learn more about data lake analytics and gain customized insights on data management from our analytics experts.
2021 will witness several enterprises transform their business processes and switch to data lakes to query, analyze, and visualize data.
Quantzig’s cost-effective, advanced data management solutions entrust businesses with real-time data management capabilities that maximize the potential of enterprise data lakes.
Quantzig can equip you with data-driven, actionable insights for creating and implementing data lakes to meet your business needs. Request a FREE pilot project to learn more about our proprietary analytics platforms and core capabilities.
"Without a clear understanding of how data lakes can benefit your business, you might fail to obtain the timely approvals required to move forward," says an analytics expert at Quantzig.
Businesses today deal with huge volumes of data- structured, unstructured, and semi-structured. Given the volume, variety, and veracity of these data sets, traditional enterprise data warehouses fail to offer valuable insights for real-time decision-making. Designed to store structured data sets, data warehouses, unlike data lakes, generate pre-programmed reports and cannot accommodate real-world requirements.
Since businesses must analyze structured, unstructured, and semi-structured data to make effective decisions, most are on the lookout for newer ways to capitalize on their biggest asset- ‘’data’’. Incorporating data lakes into the data management strategy has helped businesses tackle the data management challenge and gain an edge through effective, real-time decision-making. Partnering with Quantzig can help you adopt a progressive approach to data management, with continuous guidance and support from financial analytics experts. Request a FREE proposal to get started.
Common Pitfall in Data Lake Implementation
Lack of a clearly articulated business case
Absence of a well-integrated data management plan
Wrong platform and technology choices
Today, it's evident that data lakes are the only solution for tackling big data challenges in the new normal. However, as you begin assessing and creating data lakes for your business, it’s essential to look for solutions with enterprise-grade capabilities that expand the scope of analytics and insight generation while streamlining the end-to-end data management process. It's never too late to redefine your enterprise data management strategy. Quantzig’s analytics experts have the expertise and skill it takes to design data lakes tailored to your business needs. Reach out to our experts for more information.
Quantzig is the world's foremost full-service advanced analytics and business intelligence solution provider, turning clients' complex, unstructured data into intelligent, actionable insights that enable them to solve complex business problems and inspire innovation, change, and growth.
Over the past 16 years, our insights have helped over 120 clients spanning across industries and sectors like Pharmaceutical and Life Sciences, Retail and CPG, Food and Beverage, and more. We have successfully delivered 1500 in-depth solutions in areas like Marketing Analytics, Customer Analytics, Supply Chain Analytics, and more. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210125005402/en/
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