Amazon’s AMZN cloud division, Amazon Web Services (“AWS”), made its fully managed data visualization service called Amazon Managed Grafana generally available in a bid to strengthen its services portfolio.
Notably, the underlined service, which has been co-developed with Grafana Labs, lets customers track operational and IoT data from various sources by creating Grafana dashboards seamlessly.
Users are not required to manage the Grafana infrastructure as the service automatically takes care of the provisioning, setup, scaling and maintenance.
Users can authenticate with AWS Single Sign-On and Security Assertion Markup Language 2.0 as they can easily fulfill the security and compliance criteria with Amazon Managed Grafana.
Customers get access to various third-party plugins, which help in integrating existing data from third-party applications with the service under review.
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Move to Boost Clientele
We believe that the above-mentioned user-friendly features of Amazon Managed Grafana are likely to aid AWS in gaining traction among customers.
Customers using the service will have to pay on a monthly active-user license basis, without any upfront payment.
Notably, customers like NTT DATA Services, Area52 and Tech Mahindra have already shown interest in the service.
We believe that the growing customer momentum will continue to drive AWS’s top line. Strengthening clientele will continue to aid its competitive edge against peers like Microsoft MSFT, Alphabet’s GOOGL Google and Alibaba BABA.
The latest move bodes well for the company’s growing efforts toward expanding its cloud computing offerings.
Apart from Amazon Managed Grafana, the company recently made its fully managed in-memory database — Amazon MemoryDB for Redis — generally available. Amazon MemoryDB is Redis-compatible, which helps in the storage of the entire datasets in memory.
Also, it aids in developing applications needing a durable database with sub-millisecond latency by offering durability at any scale, low latency and high throughput.
The company announced the general availability of Amazon EBS io2 Block Express volumes, which has bolstered AWS’s storage area network capabilities. EBS io2 Block Express volumes are equipped with SAN features like multi-attach and elastic volumes.
The company announced the general availability of Amazon Healthlake, which extracts and analyzes important health-related information and securely stores them on the cloud.
We believe that the expanding AWS portfolio will continue to aid Amazon’s dominance in the booming cloud market.
Per the latest Canalys data, Microsoft Azure and Google Cloud acquired a worldwide cloud market share of 22% and 8% in second-quarter 2021, respectively, while Amazon led with a 31% share.
However, AWS is currently facing stiff competition from Microsoft Azure and Google Cloud as the latter two are leaving no stone unturned to grab a bigger market share on the back of their advancing cloud offerings. This poses a serious challenge to Amazon’s dominant position in the cloud space.
Currently, Amazon carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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