Data growth to be both opportunity and challenge for firms: AWS CEO | The Financial Express

Data growth to be both opportunity and challenge for firms: AWS CEO

Among the services launched by AWS, e-commerce giant Amazon’s cloud computing subsidiary, included AWS SimSpace Weaver, that can run large simulations in the cloud

Data growth to be both opportunity and challenge for firms: AWS CEO
Organisations need a complete set of tools that accounts for the scale and the variety of this data, and the many purposes they want to use it.

The humongous amount of data that would be created over the next five years would be both an opportunity and challenge for organisations, AWS CEO Adam Selipsky said while delivering his keynote address at the company’s annual event – AWS re:Invent 2022 – on Tuesday.

“Analysts predict in the next five years we are going to create more than double the amount of data produced since the dawn of the digital age. Managing the scale and the growth of that data is both a huge challenge and an opportunity for every organisation,” Selipsky said.

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Even though, working with data is tricky, it is the centre of applications of processes of business decisions and is the cornerstone of almost every firm’s digital transformation, he added.

Organisations need a complete set of tools that accounts for the scale and the variety of this data, and the many purposes they want to use it.

“You need to integrate and combine all that data spread across so many different places to create a better understanding of what is happening and predict what will happen, he said addressing the firm’s customers and partners.

“Just as the vastness and complexity of space means you can’t explore it with just one technology, the same is true for data. You need a complete set of tools that account for the scale and the variety of this data,” Selipsky, who unveiled a series of offerings and additional capabilities for existing services, said.

Among the services launched by AWS, e-commerce giant Amazon’s cloud computing subsidiary, included AWS SimSpace Weaver, that can run large simulations in the cloud.

Further, it also launched two new capabilities to move towards zero-ETL, or the need for extract, transform and load.

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Other announcements included a serverless version of OpenSearch, Amazon Security Lake, a new purpose-built data lake for security-related data and AWS Supply Chain, a tool designed to reduce inventory bottlenecks, among others.

AWS also showcased technology referenced as “just walk out”, which lets shoppers walk into a grocery store and walk out making payments using palm recognition service called Amazon One. This reduces the need for need for standing in a queue, Selipsky added.

(Travel for this report was sponsored by AWS)

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First published on: 01-12-2022 at 00:05 IST