Amazon S3 is a popular technology for storing data as a data lake, particularly for reading compressed parquet files during extract processes in ETL pipelines. Bodo's true parallel computing approach can significantly reduce read time by utilizing the number of CPU cores available on servers. By leveraging Bodo's capabilities, users can reduce their compute expenses by up to 4x when dealing with smaller datasets, and even achieve near-instantaneous data processing for larger datasets using its platform. Additionally, Bodo simplifies data management by supporting native Python and eliminating setup processes, allowing data engineers and scientists to focus on solving business problems rather than struggling with infrastructure.