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Data lakes are a convenient and cost effective way to store a lot of data with completely diverse structures so that you don't have to build the model ahead of time, explained Paul Sonderegger, senior data strategist, Oracle, during Data Summit 2018. Data lakes are a convenient way and cost effective way to store a lot of data with completely diverse structures so that you don't have to build the model ahead of time, explained Paul Sonderegger, senior data strategist, Oracle during Data Summit 2018.