So you’ve come across this new concept of data sharing in Snowflake, and are wondering how this could potentially fit into your daily workflow. Snowflake’s Data Sharing capability is well suited for use cases such as sharing data with partner analytics companies, monetizing data, and centralizing a data store.
A number of companies with partner analytics companies find that costly and time consuming to . The data must be carefully copied and distributed to the partner companies. It leaves organizations in a paradox where you either have to deal with the cost overhead of storing the data twice or trusting that the partner company will not lose the data. With Snowflake, the cost is reduced because data shares don’t require duplicating data and you don’t have to risk data loss because the partner companies are only getting zero copy clones with read only access.
Data is quickly becoming one of the most valuable commodities in the modern business world, and many organizations are starting to monetize the data they collect. There could be huge overhead costs building the infrastructure to send data to customers and it would limit the ability to utilize a subscription model. Snowflake not only makes sharing data easy, it gives the providers complete control over access long term. If payments stop flowing with a few simple clicks a share can be removed. Additionally, Snowflake has announced a new Data Exchange, which functions like an open market place to buy and sell data. Look forward to this coming before the end of the year 2019.
All organizations strive to have clean, accurate, and governed data. This becomes especially challenging with large, global organizations with many divisions. Centralizing data in one place can help make the process of governing data easier, but then data is often copied into data silo’s for each of an organizations individual business units. Data sharing in Snowflake offers significant cost savings in this case as well because a share can be setup with each business unit, while a team manages the centralized store ensuring data integrity.
This white paper provides examples of each of these advantages. The first case the paper highlights a retail organization sending data to an analytics company and the risk involved with traditionally doing this. In the second example, a consortium of financial services firms and vendors that need to easily provide research data for purchase. The last case is a Logistics company is building a centralized data repository to share data with its internal divisions and 3rd party organizations. The paper goes on to provide technical responses to the problems posed above.
If you’re interested in finding a partner to help with strategy and implementation of Snowflake Data Sharing be sure to check out Trianz for consulting services. Trianz leads the market with helping organizations monetize their data using a proven, structured process. Our focus is on business innovation, and we specialize in helping clients think outside the box – from building a foundation for other products/services they can profitably sell, to leveraging the intelligence they have collected from their data in novel ways. Our methods vet monetization concepts across their market opportunity, the supporting technologies, the people and organizational needs and many other dimensions; and our specialized monetization consulting team has worked with firms from the Fortune 50 to small-medium sized business to bring their monetization programs to life. Technologies like Snowflake are becoming the go-to environment for Data Monetization applications allowing scale, flexibility and cost competitiveness that is a perfect match data-centric Data Monetization applications.