From the ever-expanding partner ecosystem to new data-sharing capabilities and a focus on data governance, here’s what the three executives are taking from the conference.
Snowflake, a fast-growing enterprise software company, is on a mission to create an integrated data stack. At the Snowflake Summit 2022 in Las Vegas this week, the company unveiled several new functionality for customers that will help businesses get more out of their data. VentureBeat spoke to three digital leaders who explained what they were taking from the event.
Creating a partner ecosystem
Brandon Hutman, director of digital data at Caterpillar, is pursuing a variety of projects to help the construction machinery and equipment company create digital services for its customers. His team is responsible for returning data from the company’s dealer network to the enterprise, synchronizing and clearing that data, as well as ensuring that it is available in the backend of Caterpillar’s ecosystem.
Hotman says snowflakes are a key part of his team’s ongoing work. The caterpillar stores the information it clears in a snowflake data lake. He says Caterpillar started using Snowflake in 2017 and the cloud-based nature of the product has always been attractive. Now, he’s excited to see what comes next in terms of data stacks, especially when it comes to new capabilities.
“I’m excited to hear about the partner ecosystem that is evolving around Snowflake and to learn more about it,” says Hutman. “There’s a constant evolution of capabilities and data-sharing functions that seem interesting.”
Snowflake CEO Frank Slotman explained at the conference how the software company wants to create an integrated data stack for the enterprise by developing its own tools or working with partners. Snowflake announced a new native application framework that would allow developers to create and monetize an application on the Snowflake Marketplace, a platform that currently allows companies to access a variety of third-party datasets.
Other snowflake customers, such as global healthcare company Novartis, have proven the benefits of being heavily involved in the marketplace. Business leaders who find like-minded executives in other organizations can share information and enrich their datasets. Hootman expects data sharing to be a big theme going forward.
“From a prosperity standpoint, it’s very interesting,” he said. “I think what makes the ecosystem interesting is the availability of marketplaces and external datasets. The key is to be able to connect and get value from those datasets very quickly. This is an area that we are closely monitoring in terms of the availability of external datasets and are able to integrate them more easily. ”
Explore new data-sharing capabilities
While some of its banking rivals continue to grapple with the challenge of legacy systems, finance giant Capital One has spent the past decade adopting data-driven digital transformations, pushing systems into the cloud and exploiting the Snowflake platform.
Salim Syed, vice president of Slingshot Engineering at Capital One Software, says the release of several products at the summit shows how appropriate the bank’s initial shift on the Snowflake platform was. The technology that once helped you push legacy systems to the cloud is now an integrated data stack.
“Run everything on Snowflake,” he said, referring to the keynote address he delivered to the summit’s other digital leaders. “I mean, that’s the beauty of it, right?” It started as a data warehouse. Now you can use Snowflake to run your Data Lake, Data Transformation and Machine Learning. It’s a complete data platform that is easy to manage. “
Syed also points to Snowflake’s efforts to enhance data-sharing capabilities. The software firm continues to refine its data cloud, with the aim of helping organizations build cross-cloud data platforms to overcome technical and organizational silos. It also announced Unistor at the conference, a new workload approach that helps companies deal with transactional and analytical data on a single platform.
“I think his focus on data sharing is a completely revolutionary concept,” says Syed. “Five to 10 years from now, people will say, ‘You know, we always had data copies.’ Now, Snowflake is making it much easier to securely share data with the vast ecosystem of people and partners. And I think that’s just what’s going to happen. “
Syed issues a word of warning, though – companies that want to take advantage of new data-sharing capabilities should make sure they have the right security in place. If they do, there are going to be huge benefits to using a snowflake data stack.
“You need to create proper governance control and access policy for data sharing,” he says. “But what Snowflake is doing is proving that architecture is not a barrier. First you had to build the data infrastructure. Now, Snowflake could be your access policy. “
Strengthen governance and cyber security
It is also a matter of mind to set up a proper access policy for Prabhat Karanth, Director of Safety Compliance and Assurance at travel management company TripActions. Corinthians is creating data-based security programs that allow businesses to manage their information while meeting strict compliance requirements. He says development is key here.
“I attended Keynote and I talked to a lot of people on the Snowflake Leadership Team. There is great pressure on governance and data sovereignty. And that’s crucial, because if you’re a company doing business in the EU, there are state-specific rules in different nations, “he said.
Corinthians is also impressed by Snowflake’s desire to tackle the “metadata problem”, which he describes as a challenge to organize datasets for various commercial use cases while ensuring that data is effectively labeled: “It looks like Snowflake is really about this Thinking. , Very comprehensively. “
It is also affected by Snowflake’s “big push” on cybersecurity. At the event, Snowflake executives talked about the company’s objective that customers can choose the best-of-breed third-party security applications that meet their business needs and operate these tools safely and securely on the Snowflake platform.
“The partner ecosystem is hitting every security program you need, from endpoints to application security, cloud security tooling, search and response and continuous compliance. I think they are bringing the ecosystem together. Security is a very crowded market, “he says.
“I think vendors who partner with each other to create a panel of glass for the business and create a holistic solution based on data will succeed. And that’s a clear theme I can see in this conference.
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