In analytics, "big data" refers to the vast volumes of data that exceed the processing capabilities of traditional data management tools. It encompasses structured and unstructured data from multiple sources. A data lake is a storage repository designed to hold such raw data in its native format until it is needed for analysis. This allows organizations to store large amounts of data inexpensively while maintaining the flexibility to process it when required. Both concepts are essential for deriving business insights and driving data-driven decision-making.