According to a McKinsey Global Institute study, businesses that use big data and analytics have a 23x increase in client acquisition, a 9x increase in customer retention, and a 19x increase in profitability.
Data is the lifeblood of forward-thinking organizations and there is no denying it. Recent years have seen an explosive growth of data, which has increased the demand for data engineering services and solutions. Industry leaders across business verticals are now able to discover interesting insights in new ways and at a faster rate by building extremely reliable data pipelines, creating accurate visualizations, and relying on data-driven decision-making. Here in this blog, we will explore the world of data as a power, as well as how and why data engineering as a service is designed to help organizations succeed.
Data engineering explained
Data engineering, often known as information engineering, is a software-based approach to creating information systems. Data engineering is the collection, curation, and management of data from multiple sources and platforms.
Following this command chain ensures that the result (the data acquired) is meaningful and accessible. Furthermore, data engineering focuses on real-world data collecting and analysis applications.
To obtain accurate data, data engineers build complicated data collection and authentication channels. Artificial intelligence and integrated data technology are two of these paths.
When analyzing data, big data engineering services tailored to real-world scenarios are utilized to support the design, advancement, and monitoring of complex processing systems that simplify data collecting and the transformation of data into highly engaging insights.
Why do modern businesses need data engineering services?
The market for big data and data engineering services is anticipated to grow at a CAGR of 17.6% from 2017 to 2029, reaching US$ 204.6 billion.
In the age of digital experience engineering, big data engineers are crucial to improving a company’s data science activities. Moreover, every modern company has data-driven challenges that call for a certain level of innovation and technical know-how. Data engineers’ knowledge of data pipelines can assist businesses in resolving problems.
Employing a data engineer with experience in these technologies is crucial for organizations that want to compete in today’s competitive business environment since a rising number of businesses are undertaking transformations with the usage of design-led data engineering and test-driven automation.
Gartner, a technology-based research group, discovered that between 60% and 85% of big data projects fail, mostly owing to incorrect data architecture. Given the abundance of data, data engineering services have evolved into the core component of every contemporary business.
We at Atgeir Solutions support global companies in developing a scalable, cloud-based data architecture that is future-proof and generates data hygiene rules to ensure the best possible engineering of a digital experience.
Do you want to discover more about how to leverage data to your advantage and how we can collaborate?