A manufacturing company has been collecting IoT sensor data from devices on its factory floor for a year and is storing the data in Amazon Redshift for daily analysis. A data analyst has determined that, at an expected ingestion rate of about 2 TB per day, the cluster will be undersized in less than 4 months. A long-term solution is needed. The data analyst has indicated that most queries only reference the most recent 13 months of data, yet there are also quarterly reports that need to query all the data generated from the past 7 years. The chief technology officer (CTO) is concerned about the costs, administrative effort, and performance of a long-term solution.
Which solution should the data analyst use to meet these requirements?