Amazon launches a new data management and analysis service for the financial industry

AWS continues to grow with specific products that can help the industry achieve better results in less time.

Data are the kings, the force that is capable of making a company grow, and it is important to have a great capacity to analyze them. That’s especially important in the financial sphere, which encompasses banks, insurance companies, hedge funds, and more.

In order to gather this data, whether structured or not, to aggregate and catalog the information, Amazon has launched a new product that will allow from identifying transaction patterns to creating customer profiles or predicting purchasing behavior.

Is about FinSpace, a new service from Amazon that promises to reduce analysis from months to minutes, avoiding the manual process. For this, it offers an analysis engine built on Apache Spark (an open source analysis engine for big data processing) and a system that allows companies to define access controls to the data they want to analyze.

As with most AWS services, FinSpace is charged per usage, including the amount of data stored, the number of users, and the computing resources consumed to process the data.

Amazon already offers several industry-specific cloud services, such as Smart Factory, for manufacturing companies, and other sectors, such as Amazon HealthLake, to help life sciences and healthcare organizations aggregate and analyze their data. .

Every time the market has it clearer, if there is not a good data analysis, there is no future.

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Lenny Li

I started to play with tech since middle school. Smart phones, laptops and gadgets are all about my life. Besides, I am also a big fan of Star War. May the force be with you!

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