BigQuery and Redshift have different pricing structures, with Redshift being cheaper for simple queries but becoming more cost-effective when using multi-stage querying and optimizing data structure. BigQuery charges separately for storage at $20 / TB / month and $5 / TB processed in query, with bytes billed costs making up about 95% of the bill. To reduce costs on BigQuery, sharding and partitioning can be used to reduce column scan costs, while multi-stage querying and roll-up tables can further optimize costs. Ultimately, Redshift may not be the cheapest option if queries are intensive, but careful optimization of data structure and querying strategy can make it more cost-effective than BigQuery.