Snowflake Makes Huge Bet on Data Apps
Manny Bernabe • 2022-06-16
Snowflake announced an application framework that would allow builders to develop data applications and launch on Snowflake's Marketplace. The move aims to ride the wave of traditional SaaS buyers opting to keep control of their data and have the apps/compute come to them with “data apps”. The rise of giant cloud providers, like Snowflake, now make that a more viable option.
Why customers will like it: - Retain control of data - Reduce data silos - Out-of-the-box functionality
Why builders will like it: - Offload infrastructure woes - Faster customer onboarding - Reduce liability of sensitive data management - Juicier margins
While currently in preview mode, Goldman Sachs has used the framework to ship environmental, social, and governance (ESG) data factor overlay to a customer’s investment data.
By using the Native Application Framework, Goldman Sachs was able to deliver a secure and frictionless experience to their customers. End customers don’t need to do any data engineering or share access to their holdings to enrich their portfolio.
Exciting news from Snowflake. We’ll keep watching.
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