Snowflake, the cloud data platform
You would have seen the news about Snowflake’s phenomenal IPO.
The share price doubled on the first day giving Snowflake a valuation of roughly $100 billion Aussie dollars. Wow! Among large US-listed companies, only three are more expensive than Snowflake’s 2020 revenue multiple. Why? Snowflake is growing fast – their full-year revenue jumped 170 per cent although they are still not profitable. So what makes Snowflake so valuable?
If data is the new oil, Snowflake is the new oil terminal.
In summary, Snowflake is cheap and fast to set up but powerful and scalable to run, so users love it and Snowflake earns consumption revenue that grows.
In the digital age, accessing and analysing the latest and most accurate data is critical for real-time decision-making. Data warehouses have been the foundation of enterprise analytics and reporting for decades, yet traditional warehousing projects have struggled to keep pace with changing businesses, leading to analytics project overruns.
Snowflake’s cloud data platform is a revolutionary architecture, enabling near-unlimited data opportunities. It abstracts the complexity, allowing you to run your data warehouse (or lake) seamlessly across multiple clouds and regions for a single and consistent experience. Whether you are a business or technology professional, get the performance, flexibility, and near-infinite scalability to easily load, integrate, analyse, and securely share your data. Snowflake is much more than storage, it supports sharing, data engineering, and data science.
Snowflake is priced on consumption, mainly data transfers – the storage costs are minimal.
Because it is SaaS, you don’t need to buy hardware or licences – that’s a big saving. Combining Snowflake with a tool like Qlik Data Integration can cut 80% of the cost and time to set up a data warehouse. The speed alone can be a game-changer. Snowflake is simple to use – mainly drag-and-drop so you save on programmers and database administrators.
We spotted Snowflake early and signed on as a partner before the recent hype. It is our trusted platform to manage critical data workloads, and hence our preferred choice for data warehousing, data lakes, data engineering, data science, data application development, and for securely sharing data.
While it’s hard to say if investors will get a return at the current share price, users are getting great value.
Watch a demo designing a cloud data warehouse with Snowflake.
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