A novel approach for understanding ideology behind managing data within data lake in era of big data.

In the era of digitization massively tremendous amount of data is emerging from various sectors. Efficient utilization of data is required for analytics as data is considered crude oil in today's world. Also, Data plays a crucial role in making business decisions in different organizations. There are various types of data fueling from this digitized world. This diversified data ranges from unstructured, semi-structured, structured, Real-time data, etc. Such a huge volume of data is often termed "Big Data". There are various traditional techniques used for storing and retrieving data that deal with only a specific type of data, also the cost associated with managing data is high. These techniques are considered to be less agile and unsuitable for performing advanced analytics. To overcome these drawbacks data lake is a suitable repository that gives a flexible way to perform advanced analytics and can deal with a wide variety of data. This paper mainly focuses on a novel approach dealing with big data, defining the key role of a data lake in metadata management and governance, thus producing meaningful insights from it. [ABSTRACT FROM AUTHOR]