You can now unload the result of an Amazon Redshift query to your Amazon S3 data lake as Apache Parquet, an efficient open columnar storage format for analytics. The Parquet format is up to 2x faster to unload and consumes up to 6x less storage in Amazon S3, compared to text formats. This enables you to save data transformation and enrichment you have done in Amazon Redshift into your Amazon S3 data lake in an open format. You can then analyze your data with Redshift Spectrum and other AWS services such as Amazon Athena, Amazon EMR, and Amazon SageMaker.
Source:: Amazon AWS