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The global data lake market was valued at $7.6 billion in 2019 and is expected to grow more than 20.6% from 2020 to 2027. These powerful, cloud-based platforms offer a holistic view of marketing initiatives. They also aid exploration and research by utilizing advanced analytics, artificial intelligence (AI) and machine learning to comb through large amounts of information. But before brands, agencies, and publishers dive in, they need to understand the risks and rewards data lakes inherently bring. …

According IoT Analytics, there are over 17 Billion connected devices in the world as of 2018, with over 7 Billion of these “internet of things” (IoT) devices. The Internet of Things is the collection of those various sensors, devices, and other technologies that aren’t meant to directly interact with consumers, like phones or computers. Rather, IoT devices help provide information, control, and analytics to connect a world of hardware devices to each other and the greater internet. …