Amazon Attacks Big Data
Big Data is proving to be a massive success driver for many businesses. It’s no wonder that some of the biggest in the world have embraced data science and all the benefits it can bring. Amazon is just one more example of a business growing with Big Data.
With sales skyrocketing, and the company continuing to branch out into new revenue streams, Amazon has gone back to the business of building for the future. One of the key components of that preparation – Big Data.
One of the most vital questions businesses must answer in the quest to implement Big Data is “where to store it?” Amazon is helping to answer that question by selling excess capacity in its server farms. Until recently, the company kept the “cloud” aspect of its business quiet. Recently, though, Amazon released some staggering numbers. Last quarter, Amazon earned $265 million in profit on $1.5 billion in sales, up 49% from this time last year. Icing on the cake, Amazon CEO Jeff Bezos said AWS is accelerating. In a prepared statement, Bezos said Amazon Web Services is “a good example of how we approach ideas and risk-taking at Amazon.”
What’s the message here? Well, since its inception, Amazon has not been afraid to spend money in order to make money. There have been many times when critics have called them foolish for doing so. But who’s laughing now?
Again and again, Amazon proves the critics wrong. Casting the naysayers as fools, sometimes while they are buying up the market share from businesses who dared to laugh and scoff at their risks-taking and investing in new or less established markets. Today there are those out there who still say Big Data and cloud technology is a fad. It’s too new, too unsafe or too unpredictable. Meanwhile Amazon and many others are sitting back and stacking cash.
Jonah Engler is a finance expert from NYC who happens to be a tech nerd.