Which statement is true about Amazon ElastiCache?

Amazon ElastiCache is a fully managed in-memory data store that can significantly enhance application performance by providing fast access to frequently used data. One of its primary use cases is to improve the latency of read-heavy workloads, which are common in applications where quick data retrieval is essential for a good user experience. By caching data in memory rather than fetching it from a slower traditional database, ElastiCache reduces the time it takes to access this data, thereby increasing throughput and reducing latency.

This caching mechanism is particularly effective for applications that have high read to write ratios, such as web applications that serve large amounts of content or analytics dashboards that require quick data retrieval. ElastiCache supports Redis and Memcached, both of which are popular caching engines specifically designed to optimize data retrieval speeds.

The other statements do not accurately describe the purpose and functionality of ElastiCache. For example, while it integrates well with SQL databases, it is not limited to them. Additionally, it does not primarily function as a backup solution, nor does it require external monitoring tools, as AWS offers built-in monitoring capabilities that allow for performance insights and management directly within the AWS Management Console.