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A data lake is an architectural concept that helps you manage multiple data types from multiple sources, both structured and unstructured, through a single set of tools. The process allows you to scale the data of any size, while saving time from defining data structures, schemas and transformation. Data lakes enable organizations to generate different types of insights including reporting on historical data and implementing machine learning where models are built to forecast likely outcomes and suggest a range of prescribed actions to achieve the optimal result. The exact difference between the Data Warehouse and the Data Lake is all about and depict the reason for it's popularity.