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Data Engineering: How Can Your Organisation Benefit From It?

As per estimates, 87% of the data science assignments cannot make it to the production phase. 

Do you know why? 

The answer is that organisations are unable to handle data acquisition professionally. They are also unable to convert raw data into valuable formats. And that’s where data engineering comes into effective play. 

It is challenging to define data engineering precisely. It is about designing and developing the data infrastructure required to accumulate, clean, and format data so it is useful and accessible to the end-users. 

Ways in which Data Engineering can Benefit your Organisation

The International Data Corporation has stated that over 59 zettabytes of data will be captured, created, copied, and used over the next few years. It is estimated that the market for big data analytics will reach $103 billion by 2023, while compromised data quality will cost the US economy up to $3.1 trillion annually. 

The Fortune 1000 companies will likely make more than $65 million in net income only if they increase data accessibility by even 10%. Hence, it is business-critical for your organisation to use data engineering to derive value from your data for better business decisions and business growth. 

Getting an external intervention in the form of a service provider can ensure smooth transition and best value. Here are some ways in which AWS Data engineering services can benefit your organisation: 

  • Helps Identify New Business Scopes

Machine learning is a powerful aspect of data engineering. Different machine-learning algorithms can help you forecast the future and predict market behavioral changes based on historical data. Thus, your company can stay competitive by anticipating what the market wants and delivering the required products, all with the help of machine learning algorithms. 

In the present era, you cannot wholly depend on instinct to stay competitive in the market. Instead, work on using data engineering to develop processes to track product success, consumer feedback, and what the competitors are doing.

  • Agile Operations 

It is not a good idea to make business decisions blindly. Of course, you can take them as quickly as all the meaningful and well-defined insights are accumulated. As a data-driven business, you will spend less time cleaning and compiling data manually when you invest in the proper procedures and teams that allow all-inclusive use of your organization’s data sets. Simultaneously, you will spend more time generating valuable and meaningful data insights. 

  • Helps Make Better Business Decisions 

Different aspects of data engineering, like insight data engineering, can help the management of your organisation gain detailed knowledge of the customer base. It further helps to identify different products and customers, leading to target-oriented marketing. 

For example, your organisation can simulate specific product or price offers changes to identify how they affect customer demand. Your company can use sales data on revised products to understand the success of such adjustments. The findings can further be used to decide to roll the changes throughout your organisation. 

The company management can comprehend their customer base using newer and older technologies, like machine learning and business intelligence. Moreover, modern technology helps you constantly gather and study recent data to keep your knowledge updated as situations change.

  • Verifies the Decision-Making Procedure

Introspection is the basis of every successful procedure. The present is a turbulent marketplace where examining how previous decisions worked out is essential. Examine the additional data generated during the data-driven decision phase regularly to improve the new data-driven decisions. And that’s where data engineering is the most effective.

Due to end-to-end assessment and perspective of critical decisions, maximum data use ensures continual improvements are used regularly. The decision-makers within your organization will spend less time making decisions that do not suit your customers’ interests. It happens because you have a better understanding of your customer’s requirements. Self-improvement, an ongoing procedure in data engineering, makes it easier to make future decisions. 

  • Improves Efficiency

Robust data analytics integration will improve your business’s core competency to offer business copes and become highly effective. Critical and duly-targeted data analytics provide detailed insights that would drive your business’s decision-making procedure and operations to a higher level.

  • Increases Revenue

Proper data analysis and engineering help generate good revenue. The future decision-making procedures of your organisation will be supported very well through consistent data improvements and reasonable business predictions. If you start to operate as a data-driven organisation with data engineering firmly taking place, you can easily outsmart and stay ahead of the competition. It will also enhance innovations in business to identify different revenue streams further.

  • Trends-Based Actions

Proper use of data engineering involves analysing your company data and then suggesting actions that can help you improve customer engagement and your company’s performance. Ultimately, this will help you increase profitability and revenue. In this era, the different trends existing in the market form the basis of innovation for companies. You can leverage these trends and take innovative actions as per your customers’ diverse requirements.

  • Target the Right Audiences

Companies gather information about their customers through customer surveys and Google Analytics. But these details will be beneficial only if they are used efficiently, for example, to learn more about audience demographics. 

One of the greatest advantages of data engineering is producing insights for your company that you can use to know more about your customers. And when you find everything about your customers precisely, through detailed analysis of different sources of information, it will help you offer your products and services to the right customer groups. And ultimately, this will again bring you huge profits. 

The Bottom Line 

With an explosion of data across the industry, data engineering has become the most basic element for all modern businesses. As an organisation operating in this digitally advanced arena, you need to effectively use data engineering to know more about your customers.  It also allows you to monitor operations that ensure delivery in areas critical to meet and even exceed customer expectations. Ultimately, it is a win-win for you and your customers. 

Ahsan Khan
Ahsan Khan
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