Larry Ellison, the ambitious CEO of enterprising hardware and software company Oracle, is taking the company’s cloud computing options to the next level, according to a new report from PCWorld.com. The article states that Ellison and Oracle are preparing to enter the competitive and in-demand world of in-memory computing services, an announcement that should be music to the ears of tech gurus and information technology experts everywhere.

For those who are unfamiliar, in-memory computing services like the one Oracle will soon offer work similarly to other cloud-based server options, storing a company’s data offsite and off-setting the cost of purchasing physical servers. The difference with in-memory computing is that all of the company’s information is stored in a server’s random access memory (or RAM) rather than in the dark depths of the system. This arrangement allows for easier and faster access of information, simpler analysis of massive data banks, and economical drops in computing prices. In other words, in-memory computing is a big boon for businesses anywhere, and it was only a matter of time before a company like Oracle was going to join the fray.

According to Ellison, Oracle’s new in-memory capability could be a game-changer as well. He claimed that his company’s new in-memory option boasted “ungodly performance improvements,” largely derived from Oracle’s goal to attain “100 times faster queries for analytics and a doubling in throughput for transaction processing.”

Analytic boosts will appeal to large enterprises or publications looking to build web traffic, while the transaction improvement will add a sleek and efficient drive to the internet and cloud systems of retail stores or banks. In other words, Oracle’s new in-memory computing options could appeal to the full spectrum of the company’s clients. The best part, however, is how easy it is for past Oracle customers to upgrade to the new computing standards.

During his speech at the OpenWorld conference on Sunday, Ellison boasted that Oracle’s new in-memory options could be adopted with the ease of “flipping a switch.” Clients running on older memory options through Oracle must merely access their account and switch their storage over to in-memory, an action that Ellison said would immediately result in noticeable differences in speed.

In-memory capability wasn’t the only announcement Ellison made on Sunday, however. The CEO also unveiled a new “Big Memory Machine” server, which includes 32 terabytes (32,000 gigabytes) of dynamic random access memory, as well as a number of high-speed multi-core chips. The price tag on that server? $3 million.