REPORT: Data Engineering 4.0: Evolution, Emergence and Possibilities in the next decade
- Nanda Ramaiah
- March 31, 2020
- Advisory, AI at Scale, AI For CXOs & Senior Leaders, AI Interventions For Industry Segments & Business Functions, AI Interventions For Industry Segments And Business Functions, AI Talent Mapping Strategies, AI Talent Mapping Strategies, Building AI Powered Organizations, Building Blocks for an AI Strategy, Consulting, Enterprises, Global Capability Centres (GCCs), YourStory
Today, most technology aficionados think of data engineering as the capabilities associated with traditional data preparation and data integration including data cleansing, data normalization and standardization, data quality, data enrichment, metadata management and data governance. But that definition of data engineering is insufficient to derive and drive new sources of society, business and operational value. The Field of Data Engineering brings together data management (data cleansing, quality, integration, enrichment, governance) and data science (machine learning, deep learning, data lakes, cloud) functions and includes standards, systems design and architectures.
There are two critical economic-based principles that will underpin the field of Data Engineering:
Principle #1: Curated data never depletes, never wears out and can be used an unlimited number of use cases at a near zero marginal cost.
Principle #2: Data assets appreciate, not depreciate, in value the more that they are used; that is, the more these data assets are used, the more accurate, more reliable, more efficient and safer they become.
There have been significant exponential technology advancements in the past few years ; data engineering is the most topical of them. Burgeoning data velocity , data trajectory , data insertion , data mediation & wrangling , data lakes & cloud security & infrastructure have revolutionized the data engineering stream. Data engineering has reinvented itself from being passive data aggregation tools from BI/DW arena to critical to business function. As unprecedented advancements are slated to occur in the next few years, there is a need for additional focus on data engineering. The foundations of AI acceleration is underpinned by robust data engineering capabilities.
YourStory & AIQRATE curated and unveiled a seminal report on “Data Engineering 4.0: Evolution , Emergence & Possibilities in the next decade.” A first in the area , the report covers a broad spectrum on key drivers of growth for Data Engineering 4.0 and highlights the incremental impact of data engineering in the time to come due to emergence of 5G , Quantum Computing & Cloud Infrastructure. The report also covers a comprehensive section on applications across industry segments of smart cities , autonomous vehicles , smart factories and the ensuing adoption of data engineering capabilities in these segments. Further , it dwells on the significance of incubating data engineering capabilities for deep tech startups for gaining competitive edge and enumerates salient examples of data driven companies in India that are leveraging data engineering prowess . The report also touches upon the data legislation and privacy aspects by proposing certain regulations and suggesting revised ones to ensure end to end protection of individual rights , security & safety of the ecosystem. Data Engineering 4.0 will be an overall trojan horse in the exponential technology landscape and much of the adoption acceleration that AI needs to drive ; will be dependent on the advancements in data engineering area.
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