Data warehouses and data lakes are two leading solutions for enterprise data management in 2023, each with fundamental differences in philosophy, design characteristics, and ideal use conditions. Data warehouses store structured data with predefined schema, operate on a schema-on-write process model, and are best suited for managing data with clear analytics use cases, whereas data lakes store all types of data in their raw format, operate on a schema-on-read process model, and are suitable for handling large volumes of unstructured or semi-structured data. While these solutions are not mutually exclusive, choosing the right approach depends on the organization's specific needs, and combining elements of both can provide a more effective data management strategy.