Snowflake’s IPO Signals Continued Momentum for Data Migration to the Cloud
If you’re watching the tech market, there’s no doubt that you’re aware of Snowflake’s Initial Public Offering (IPO) that will make the company’s stock available on the New York Stock Exchange on Wednesday, September 16.
With over 3,100 customers and reported generated revenue over $240M in the past 6 months (ending July 31), the company has seen amazing growth. And with companies like Berkshire Hathaway and Salesforce.com planning to participate in the upcoming IPO, Snowflake is well positioned for its debut as a public company.
From Prem to Cloud
Snowflake is a cloud-based data warehousing company which enables organizations to store and analyze data in the cloud, with secure access for everyone, everywhere. Snowflake’s platform is built on all three of the major cloud providers: Amazon Web Services (AWS), Microsoft Azure, and Google Cloud enabling supporting technologies across the tech stack choices.
Snowflake’s Data Warehouse as a Service (DWaaS) platform is interesting because it enables customers to migrate their data from on-premise data centers to the public cloud. And this means that you can take all of your data, regardless of source and format, and make it available for business intelligence processes by placing it into Snowflake.
Why it’s Happening
At Resultant, pipeline migration is a big part of what we do. We help our customers migrate their data to the public cloud, and we’ve seen a remarkable increase in the number of Snowflake implementations over the past five years.
There are many reasons that we see this shift to the public cloud happening. However, some of the most popular reasons include a need for better business intelligence, lowering costs and providing better service to customers.
Most of the companies that we work with house their data across multiple databases. Most, if not all of that data, is difficult to access. It’s expensive to extract and often very difficult to process for business intelligence applications. In the past, business intelligence applications were reserved for the executive level. Now, executives, managers, analysts and anyone in the organization can gain timely access to their organization’s data — providing for better decision making and faster profits.
At Resultant, we work with our customers to identify where they are on a five level Business Intelligence Maturity Path and then help them build a strategy that takes them from their current position to where they desire to go. Level 1 (Unaware) is the starting point for some organizations that are stuck with legacy reporting systems that don’t have the ability to scale and perform at the desired level for them to be competitive. The migration path also includes Tactical, Emerging, Strategic, and, ultimately, Pervasive where all data is available at any time.
Organizations that want to serve their customers better and streamline their operations, are moving to DWaaS platforms. DWaaS enables organizations, both large and small, to size their data warehouse more appropriately. These organizations can size their data warehouses based on current budgetary restrictions but also dynamically grow them as needs change.
And better access means better service to your customers. Over the years, the number of data sources has steadily grown as customers are leveraging data from websites, mobile phones, apps and even machines (IoT). Unfortunately, legacy data warehouse architectures of the past were not designed for the large, diverse data sets that our customers see today. That means insufficient storage and compute resources are resulting in systems that hang and frequently crash resulting in lack of visibility and poor customer service.
We Can Help You Get There
Resultant has helped hundreds of organizations, both large and small, migrate their data to the cloud. We help organizations climb the business intelligence maturity path and have expertise in data visualization, data science and data governance as well.
If your team is looking to migrate to the cloud, we welcome an introductory call to learn about what data challenges your company is facing and how we might be able to help. Talk to our team today
Disclaimer: Nothing contained in this blog should be construed as investment advice regarding Snowflake’s upcoming IPO.