Data is one of the most significant assets in today’s world. Regardless of the industry, they are in, every enterprise or business tries to capture the customer data in the market. Through different touchpoints of customer interaction, this data is stored by companies and used for multiple purposes.
The point is that data is the prime enabler of innovation, growth, and customer satisfaction in the modern world. If you’re finding it too direct, you might want to dig down behind the business process. More and more businesses are these days creating multiple touchpoints for the customers to interact with. Regardless of which platform they are currently using to sell, companies from all walks of life establish their presence across multiple platforms.
Expanding Businesses, Expanding Data
For example, if you look at the omnichannel scenario, you will see that businesses, despite their flourishing retail stores, are getting out on platforms over the Internet. Regardless of how big the brand is, eCommerce is becoming a fierce competition for everyone. This is pushing businesses from all walks of life to establish their digital presence.
Be it apparel brands such as Zara, Marks and Spencers, sports brands or beauty and cosmetics brands such as Sephora, etc. These are expanding their presence on social media platforms. This is because, with the wave of digitization, several brands have found it easy to get into the world of business. They are all setting up a business and reaching out to the customers with as little investment.
While this is a good thing for customers since they are getting more options, the market for businesses is becoming even more competitive. Online companies are giving lucrative opportunities to the customers and luting them in with attractive discounts and prices. For big brands, this becomes a problem, as customers end up shopping and getting their goods delivered via online platforms.
Another big challenge is the coronavirus pandemic. While people choose to stay indoors, it becomes only intuitive to shop online and fulfill their necessities. Owing to this, online business s receiving more boost. For retail companies, who are expanding to platforms, they are creating multiple touchpoints for the customer.
Scaling Data Warehouse
And as a result, more data is being generated. The more platforms businesses expand to, and the more data gets generated. While all of this generated data can be leveraged to better understand the market and advance the customer experience, the problem businesses face is more.
The real question comes in understanding where all of this data will be stored.
Data warehouses provide an ultimate solution to storing and analyzing data. Most of the warehouses have separate space for storing data and separate space for computations. This helps businesses scale their data storage and computation capacities without worrying about the investment.
This is because organizations only have to pay for what they use. For example, one of the data warehouses that companies absolutely love using is Amazon Redshift. It is the data warehouse of Amazon Web services that organizations often use to gain insights into their business based on their data.
Amazon Redshift RA3
However, customers already using the Dense Compute 2 might find a huge relief by upgrading their data warehouse. While plenty of businesses currently use DC2, they are still paying a lot of costs for utilizing a particular space. But with the migration to Amazon Redshift RA3, customers have to pay half the price and receive double the storage capacity as compared to present DC2 systems.
The list of customers of RA3 span across countries and also includes organizations from the Fortune 500 companies. In other words, Amazon Redshift RA3 breaks down the barrier of the cloud data warehousing as a costly affair for small businesses. Instead, they are making it available for small and medium enterprises so that they can leverage the latest cloud-based technology to run analytics at scale with RA3.
Furthermore, more and more customers are migrating to the RA3 platform since it offers continued innovation and a chance for even the smallest businesses to excel in the market. The management of storage pace is many convenience twitch RA3 along with its ability to scale, compute, and store with Amazon Redshift independently.
For example, the organization OpenVault uses Amazon Redshift RA3 to improve the productivity of its data scientists. Along with this, the platform helps the organization perform real-time data analysis of multiple rows sometimes of the size as much as billions. The point is all of this happens seamlessly, especially with the growing analytics needs and the rising demands of the customers.
Some of the major platforms that have migrated from DC2 to Amazon Redshift are Duolingo, Social Standards, Yelp, Codecademy, and Nielsen. All of these are now paying much less and receiving a more significant storage space in return. Increased performance, efficiency are complementary.
Thus, RA3 is a much cost-effective option for all types of businesses, including steady and diverse data warehouse loads. Ultimately, the platform helps maximize business performance and enjoy much greater flexibility. More to this, organizations can put a pause to cluster and resume them immediately without any issues. This is spread across multiple industries such as e-commerce, SaaS, among others.