What are the key elements of a data platform?

Traditionally, the two key elements of a data platform have been data lakes and data warehouses. These elements are used for very different things and can be categorised in the following way:  

Data lake

A central repository that allows you to store any type of data in any format, and at any scale.   

Data warehouse

A data warehouse is where structured data is stored. Structured and unstructured data from the data lake is triaged into the warehouse, in a standard, readable format that allows it to be accessed and delivered in a visual format via your BI tool.   

‘If we continue with the water analogy, imagine every drop of water in the data lake is a piece of data. It would be impossible to go into the lake and retrieve the exact drop of water you’re looking for. But in the data warehouse, every drop of water is bottled and clearly labelled, sat on a shelf with signage to guide you to it.’ 

Ian Niblock, Senior Director Product Development, MRI Software 

It’s worth noting that at the time of writing, Microsoft has suggested the distinction between data lakes and warehouses could change, with new technologies in the pipeline which could change the way we operate. Watch this space.  

Should I host my own data lake and warehouse?

As you read this eBook, you may be wondering if you need to get your IT team straight on to creating your own version of these elements for a successful platform.  

We would advise against this. There are two key benefits to going with a larger provider when it comes to data lakes and warehouses.  

1. A lot more power – robust and powerful infrastructure is already available through major providers, meaning your data is safe, secure, and easily accessible. 
2. Economy of scale – it’s often more cost efficient to lean on the pre-existing infrastructure of bigger companies, rather than trying to re-invent the wheel.  

‘The historic challenge when we’ve built our own data warehouses, is users always start to question the accuracy of the data and the authenticity of the data. Whereas with MRI Agora Insights platform… it’s all pre-configured and the dashboards make perfect sense to the users immediately.’ 

Alec Davies, CIO at Growthpoint Properties 

Tip: Leverage the robust technology of major providers to host your data lake and warehouse.  

Keen to know more?

Interested to hear how MRI Agora Insights can help your business? Book a discovery call with our friendly team today. 

Keep reading

This article is the third in a series about making smarter decisions through AI-powered business insights. Keep reading to discover how to tell better stories through data visualisation.