The business case for data engineering
Organisations with good data engineering are more confident and report that their businesses are better able to respond to changing events. A European YouGov study found that 68% of data-driven business leaders are now more optimistic about the future of their businesses. These organisations are also investing in their belief, with 76% of respondents reporting that they’ll continue or increase spending on data skills training and development within their organisations in 2021.
The YouGov survey of 3,500 European business and technology leaders in France, Germany, the Netherlands and the UK also reported that organisations with strong data engineering are able to make strategic decisions more rapidly, have improved communications with their teams and experience higher levels of collaboration.
Data as a strategic asset
“You need to look at the data that you have from your supply chain, customers and employees to find the insights that make your business function effectively,” says Ramona Fuchs, Head of Strategic Relations at eSynergy Solutions.
Data has to be engineered into a strategic business asset because, like revenue, technology or the retention of talent, data represents a constant opportunity and therefore demand on the business. Companies that successfully implement a robust data strategy, and that continually evaluate and evolve their data use can reap the rewards. A data strategy requires a plan for sourcing and storing data, concepts for putting data to work and – perhaps most importantly – a process for evaluating which ideas are most effective.