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Blog Excerpt The new normal has seen Enterprise Leaders push the envelope on their BI(Business Intelligence) implementations to deliver on the dual mandate of growing revenue and optimizing costs. As data volumes and availability continue to grow, the emphasis is on democratizing data and enhancing collaborations amongst the field teams. Actionable advanced data visualizations and interactive business dashboards have made advanced analytics accessible to all levels of an organization. BI tools continue to innovate in allowing end-user organizations to customize for their specific needs. Organizations – big and small are looking for cloud-based simplification of data security and discovery while expanding the usage of collaborative BI and AI(Artificial Intelligence).
Snowflake BI and Analytics for improved collaboration
The Snowflake platform provides a multi-cluster shared data architecture that powers the data cloud in a fully managed environment. It allows enterprises to handle their most critical workloads on the vast computing power and resources available on the cloud. DataTerrain SMEs(Subject Matter Experts) have observed that the major differentiator of Snowflake is its ability to drive collaboration. Analysts across organizations have also highlighted the simplicity of discovery, acquisition, and monetization of data, data services, and applications across clouds using Snowflake. Some of the key features of Snowflake noted by numerous customers include –
• Secure collaboration across organizations with organizational data silos broken down while reducing the complexity of securely accessing and distributing data across the business ecosystem of an enterprise
• Direct access to distribute data and applications across business units, partners, and customers, even if they aren’t on Snowflake o Reducing the risks, costs, and headaches from traditional sharing methods o Reducing ETL(Extraction, transformation, and loading) and data pipeline maintenance costs o Accelerating time to insight for BI and AA(Advanced analytics)
• Secure, governed and revocable credentials to control who can discover and access the enterprise data estate by enabling – o Analysis of data without exposing it o Governance and monitoring of enterprise data access and usage o Targeted data discovery with multiple internal and external organizational entities and touchpoints o Advanced data Security through numerous built-in features
• Monetization by streamlining buying experience through o Snowflake marketplace to reach thousands of customers o Flexible consumption-based pricing options o Trial options before customers decide to buy o Evaluation and purchase of data, data services, and applications
Snowflake offers industry-specific solutions for all major verticals including –
• Advertising, media, and entertainment
• Financial services
• Healthcare and Lifesciences
• Manufacturing
• Public Sector
• Retail/CPG
• Technology
Benefits of Snowflake
The key benefits seen by major users of Snowflake include –
1.) Top Line growth acceleration a. By unlocking insights with external data, services, and applications from over 260 partners in the Snowflake marketplace b. Monetization of data, data services, and applications by delivering live data and reaching new customers through the data cloud. c. Strengthening business partnerships by sharing live, up-to-date data, data services, and applications with partners and vendors.
2.) Optimization of operations a. Removal of ETL to accelerate data access through secure sharing and collaboration b. Internal data silos are broken down with flexible discovery controls, robust data governance, and auditing for enhanced collaborations across subsidiaries and BUs(Business Units) c. Collaboration with companies not yet on Snowflake by managing partner accounts on their behalf on Snowflake or providing direct links to the enterprise cloud
3.) Enhanced data security and Governance a. Global Data Clean Rooms to support analysis of sensitive data without exposing it b. Organization-wide data governance with centralized and flexible multi-party governance controls such as row-level access policies, data masking, and the ability to revoke access.