Snowflake – The Data Warehouse Game-Changer
Snowflake Computing has rapidly become one of the most important players in the ever-evolving and exploding cloud data warehouse market. If you’re not familiar, do yourself a favor and head to their website for a quick primer, learn about their game-changing product, what it can do for your business, and get involved with the Snowflake Community.
Snowflake is the first data warehouse built specifically for the cloud to deliver performance, concurrency, simplicity, and affordability not offered by other platforms. Its unique architecture uses multiple, flexible clusters to automatically configure to demand, allowing easy scale-up during peak periods and performance up to 200 times faster than competing systems. (Gigabit)
Snowflake is built for speed, even with the most intense workloads. Gone are the days of compute requests taking multiple days; now they take just a few minutes. If that’s not enough, the cost model is certainly appealing – you only pay for what you use. And migration is easy – transitioning from an on-premise solution to the cloud can be completed in as little as two to three months.
Recently, Forrester Consulting was commissioned to conduct a Total Economic Impact (TEI) study and examine the potential return on investment (ROI) that customers could expect by utilizing Snowflake’s solution rather than maintaining their own on-premise solutions. Interviews were conducted with four customers from a variety of industries including Search Engine Marketing, Interactive Entertainment, Mobile Data, and an entertainment conglomerate.
The results of the study were truly astonishing, including an average ROI of 604%, a net present value of $5.97 million, and a payback period of less than three months. More specifically, the study noted the following compelling results:
- $3.5 million in legacy storage costs saved
- $731,000 in legacy compute costs saved
- $995,000 in ETL labor cost avoided
- $796,000 saved from reduced cost of database management
- $895,000 saved from faster time-to-production
Evidently, Snowflake’s commitment to data warehouse simplicity, performance, and affordability has paid off enormously for both itself and its customers. Its future appears to only keep getting brighter as the IDC recently estimated global revenues for Big Data and Business Analytics (BDA) will reach $189 billion in 2019 (12% increase from 2018), a significant portion of which will be attributed to cloud data warehousing. The report also predicted BDA growth will continue with a five-year annual growth rate (CAGR) of 13.2% and revenues of $274.3 billion by 2022. (IDC) The cloud is emerging to be a legitimate, trusted, and effective platform faster than many in the industry predicted and Snowflake is poised to be a significant leader and player in the space.
Verity Consulting has the expertise needed to help your business implement and make the most of Snowflake and its revolutionary cloud data warehousing capabilities. We have an experienced team of Snowflake-certified consultants, subject matter experts, and a strong track record of successful implementation across a variety of industries.
Want to talk further and explore Snowflake’s potential for your business?
Dyble, Jonathan. “Inside data analytics: A Q&A with Snowflake Computing.” Gigabit, 11 June 2018, https://www.gigabitmagazine.com/big-data/inside-data-analytics-qa-snowflake-computing. Accessed 28 June 2019.
“The Total Economic Impact of Snowflake Data Warehouse-As-A-Service.” Forrester Consulting, June 2018, https://www.snowflake.com/wp-content/uploads/2018/06/Forrester-TEI_Snowflake-MCCS-FINAL-June-15-2018.pdf. Accessed 27 June 2019.
“Worldwide Semiannual Big Data and Analytics Spending Guide.” International Data Corporation (IDC), 4 April 2019, https://www.idc.com/getdoc.jsp?containerId=IDC_P33195. Accessed 28 June 2019.