The term 'data lake' refers to a centralized repository that stores vast amounts of raw and structured data in its native format until needed for analysis. Unlike traditional databases, data lakes can accommodate various data types, including text, images, and videos, enabling businesses to store information without predefined schemas. This flexibility allows for scalable data management, facilitating big data analytics and machine learning initiatives. Organizations leveraging data lakes can extract valuable insights to make data-driven decisions and improve operational efficiency while managing diverse data sources.