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To meet the needs of financial services companies managing data, Amazon Web Services, Amazon’s cloud computing platform, has introduced a new analytics service specifically tailored to the specific data needs of financial companies. The platform is based on Apache Spark and is intended to help large financial companies prepare data in the petabyte range.

One of the biggest challenges for organizations trying to leverage data is turning information in multiple formats and from multiple sources into usable information that can then be analyzed.

Amazon FinSpace is used to aggregate and catalog and tag a company’s data to create a searchable database. The platform, which customers can access via a web application, was developed for hedge funds, asset managers, insurance companies and investment banks and has a catalog with built-in classifications for common data sources such as trades and economic data. You can load your own data via an API …

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