What Is Parquet?
Parquet is a columnar storage format for big data processing and analysis, commonly used in the Apache Hadoop and Apache Spark ecosystems. It is optimised for fast querying and efficient storage of large, complex data sets, and supports a wide range of data formats and compression options. By organising data into columns rather than rows, Parquet enables more efficient compression and encoding, as well as improved query performance, making it a popular choice for data warehousing and analytics applications. More information.
Parquent comes from Apache Arrow ecosystem.
Parquet files have internal compression, usually Zstd, to make transferring large data series faster.
See also
PyArrow - Python library
Apache Arrow - open source data science ecosystem project
OHLCV - market and price data type