Regeneron isn’t the only company eager to get more value from its data. Despite the massive amount of data they collect and the amount of capital they invest in data management solutions, business leaders are still not getting the most out of their data. According to IDC research, 83% of CEOs want their organizations to be more data-driven, but they struggle with the cultural and technological changes required to execute an effective data strategy.
In response, many organizations, including Regeneron, are turning to a new form of data architecture as a modern approach to data management. In fact, by 2024, more than three-quarters of current data lake users will invest in this type of hybrid “data lakehouse” architecture to enhance the value generated from their accumulated data, according to Matt Aslett, a director of research at Ventana Research.
“Data lakehouse” is the term for a modern and open data architecture that combines the performance and optimization of a data warehouse with the flexibility of a data lake. But achieving the speed, performance, agility, optimization, and management that this technology promises also requires embracing best practices that prioritize company goals and support collaboration across the enterprise.
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