1. A computer-implemented method for managing query execution, comprising: receiving a query for processing from a requesting entity; calculating an estimated execution time for executing the received query, wherein the estimated execution time approximates an amount of time the received query will take to execute; determining a maximum allowable runtime for the received query; adjusting an amount of memory compression used in executing the received query, based at least in part on the estimated execution time and the maximum allowable runtime for the received query; and issuing the query for execution using the adjusted amount of memory compression and by operation of one or more computer processors.