Amazon may be ready to enter the data analytics market with reports that it is set to announce a new analytics service for businesses.
The Seattle-based company’s cloud computing division, Amazon Web Services (AWS), is expected to confirm this week that it is launching a new service to help businesses analyse their data.
Currently code-named Space Needle, the new service will charge customers a monthly subscription fee to store and have their data presented to them. It will help illuminate business decisions and improve businesses efficiency by drawing on an array of databases and present relationships between them in graph form. Similar to other business intelligence programmes, it will also use the data to simulate different scenarios allowing businesses to see how to allocate resources to making it easier for the user to generate maximum revenue.
Companies such as Netflix, Airbnb and Nike currently store proprietary data on AWS and so offering the additional service would be seen as natural extension of its existing data offerings.
According to reports from the WSJ, it will include a faster method for transferring or copying data to AWS. In instances where the amount of data is too large, Amazon will supply a storage device that customers can transfer the data onto and send back.
Business intelligence programmes are springing up fast with the promise of delivering big on data and Amazon’s entry into the market will see it go head-to-head with the likes of IBM and Microsoft. Corporate data is expected to play a larger role in business strategies as more business is conducted online and the cost of data storage falls. According to analyst Pringle & Co, the business intelligence market is expected to be worth $143bn by 2016.