Which of the following statements is true regarding Apache Parquet?

Apache Parquet is a columnar storage format, which means it organizes data in columns rather than rows. This structure is particularly advantageous for analytical workloads where aggregate queries are common, as columnar formats allow for efficient reading and writing of data by only accessing the columns needed for a specific query.

Parquet's design enables better compression and encoding schemes compared to row-based formats, leading to reduced storage space and faster read performance. This is especially important in big data contexts where efficiency can significantly impact performance and cost.

The other statements do not accurately reflect the characteristics of Apache Parquet. It is not a text-based storage format; instead, it is optimized for binary data storage. It also does not focus on row-based storage optimizations, which are found in traditional row-oriented databases. Additionally, while Parquet is commonly used with Apache Spark due to its performance benefits, it is not exclusive to Spark and can be utilized with other data processing tools as well.