Banks keep making Data Lakes -- but do they even know what a data lake is?
Banks keep making data lakes But do they actually know what they are? Or why they wanted one in the first place? My buddy at Goldman Sachs says he worked on their data lake. Another worked on Capital One's data lake. HSBC just made a data lake. I distinctly recall that Crapital One's took over a year, did not actually accept storing raw data (which is the entire point of a data lake), and they were originally trying to make it handle compute and not just storage.
Azure Data Lake?
Yeah, I saw that came out! And then, AWS came out with something too. Yet, I think further banks are just going to insist on reinventing the wheel
If you worked for a bank you would presumably understand the need of data with respect to regulatory and risk reports. You would also know and understand how many effin applications this data comes from and how CLEAN usually data sets are when some of these platforms are years old if not decades. The need is real, the implementation is usually *** up. Hope this helps answers your curiosity.
Data is a business and should constantly be reinvested into. All the way from a new Data Mart or rebuilding the dam thing.
My employer has old data
No bank knows what a data lake is. They’re just pumping money into the ether. Perhaps OP can go enlighten them. Especially since he finds this mirth in the mundane. /s
IT at banks is grotesque. A senior Wells Fargo architect was trying to convince me that putting a search engine on top of a data lake is useless because you can use a regular expression in Hive. Ever heard of O(n) vs O(log n) and how it applies to 1.5 PB of data?
Well, also, typing search queries in English is way easier than typing out a full fucking regular expression in Hive
Thats a data ocean/ data sea / data landfill
There’s definitely a real need. The in house implementations are usually fucked up because most want to do it, will make a couple of high profile hires from FAANG, and then not fund it the right size.(and over the time it takes) Data problems at banks are significantly complex - both in scale and disparity. If one of the big tech cos - actually solves it in a plug and play way, they’ll mint.
Crapital One 😂
Hey! Big money TDP's rotational plan, featuring innovative Top 3 ™️ technology, is absolutely nothing to sneeze at!
I know some of these words!
why do u care? its their money, they can waste the way they like.
(I worked at one of these banks) I just find it to be very amusing.
Sounds like you’ve fully embraced the Oracle ethos.