LONDON, Sept. 25, 2019 /PRNewswire/ -- Data lakes have something of a mixed reputation, with detractors arguing that, in practice, storing all your business data in one place on the go and without structure will essentially render it static and unable to derive any further value. Proagrica, the leading independent provider of connectivity and data-led insight across the agriculture and animal health markets, have published a new report challenging this concept, and detailing how businesses can derive untapped value from their data lakes. The real risk, says Proagrica, is doing nothing at all, and letting their data lakes stagnate into data swamps.
"Data lakes are a valuable asset for agribusinesses, but their true potential is only unlocked when utilizing analytics and other management tools," says Jeff Bradshaw, Chief Technology Officer at Proagrica. "All agribusinesses generate data – and likely have a data lake, even if they're not aware of it – so this is a huge untapped resource of value, just waiting to be unlocked."
The data lake concept is often compared to the more traditional "data warehousing", which is highly structured and typically extracted to suit specific applications well in advance of it being used. While data lakes can contain structured data as well, they're also able to handle a wide range of unstructured data, including documents, audio files, video, social media posts, transaction logs, and more.
Key topics addressed in the report include:
1. The What/Why/How of Data Lakes – A plain English explanation of what data lakes are, how they function, and how you can start incorporating them for stronger business management.
2. The Importance of Analytics – How bringing analytics to your data lake can unlock a great deal more value than you realize.
3. Enhanced Speed and Efficiency – How data lakes – when combined with the right tools – can save your business time and money, by quickly accessing and making use of data as necessary.
4. Data Lakes vs Data Warehouses – Why data lakes offer more flexibility and potential for agribusinesses, compared to other options.
The importance of data to the agriculture industry cannot be overstated, with expert voices heralding it as the single most important advancement we'll likely see this century, and a key to sustainably feeding the world's rapidly growing population. Data lakes are, in some ways, the natural result of this drive towards data adoption, but still offer significant value as a means for both managing data volumes while simultaneously delivering cost-saving automation and actionable insights.
Data lakes are the natural next step for analytics in the agriculture industry, making advanced insights possible that are simply not available when using less adaptable or innovative technologies. Using the right platforms and the right integration tools, agribusinesses can extract substantial benefits.
"Data has already begun to transform the agriculture industry," adds Jeff Bradshaw. "We're experiencing something of a "data revolution", the reverberations of which are already being felt. Data lakes are a key asset when managed properly. Choose the right tools and services that makes data lakes work for you. Don't let your lake become a useless inactive swamp."
Download the full report at https://secureforms.proagrica.com/datalakes
Proagrica, part of RELX Group, is a global provider of independent connectivity and data-led insight across the agriculture and animal health markets. We deliver actionable intelligence to drive business growth across the value chain. Our superior products and services connect and empower industry participants to address their key needs around trading, productivity and compliance.
Our solutions are built around the key competences of data connectivity and data analytics delivering seamless supply chain management, supply chain standards compliance, and customer insight and engagement, essential for businesses looking to improve their value offering and expand in the modern marketplace.
Proagrica also encompasses performance-boosting farm management software brand Farmplan, and industry-leading media platforms, including Farmers Weekly.
RELX is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs over 30,000 people, of whom almost half are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. The market capitalization is approximately £36.6bn, €41.4bn, $45.5bn.