Snowflake’s momentum driven by launch of platform innovations, verticalisation, global expansion, and growth of industry customers
Snowflake, the Data Cloud company, previously announced impressive growth following a successful fiscal 2022, which ended January 31 2022. The company’s 2022 financial year saw the company expand operations globally, adopt a verticalised approach, drive wider customer adoption, and deliver developments and innovations related to data science and data applications.
“A key focus for us has been our move towards verticalising our Data Cloud offerings, while addressing the requirements and opportunities associated with these industries”, said Alison Tierney, SVP EMEA, Snowflake. “Each industry has specific data challenges, whether that’s the highly-regulated environment of financial services, or the visibility required for stock fulfillment and management of the retail and CPG sector. You cannot apply a one-size-fits-all approach for different sectors and expect success. Instead, we saw the benefits of personalising our services to ensure the best possible customer experiences and that the needs were met for each sector.
“Snowflake’s growth is also being driven by digital transformation and trends in data science and analytics, enabled by cloud scale computing and Snowflake’s cloud-native architecture”, Tierney added. “More and more customers are enjoying a world without data silos, and the ability to seamlessly mobilise their first-party data with third-party data to enhance business insights driven by facts, and not guesswork.”
Vertical Data Clouds
Snowflake’s vertical Data Clouds represent bespoke solutions addressing the challenges and opportunities of each industry, and enabling organisations to maximise and mobilise their data.
- Financial Services Data Cloud – Banking, insurance, fintech, and investment management customers, and others in the financial services industry, can utilize Snowflake’s Financial Services Data Cloud to launch new customer-centric products and services, build fintech platforms of the future, and accelerate their compliance and regulatory compliance. Snowflake was also the first company to achieve the new Cloud Data Management Capabilities (CDMC) financial industry standard, which is sponsored by the EDM Council and verified by KPMG. Refinitiv, a business of the London Stock Exchange Group, launched quantitative analytics via Snowflake’s Financial Services Data Cloud. Asset management firms and hedge funds can now access Refinitiv quant data along with existing Snowflake vendor and proprietary data across numerous AWS and Azure cloud regions.
- Media Data Cloud – By leveraging the Media Data Cloud, marketers, publishers and ad tech customers are performing essential 1st party data matching, creating audience insights, activating and measuring campaigns, all while limiting the movement and copying of data. Traditionally, only large technology platforms enabled privacy sandboxes, but with data clean rooms enabled by Snowflake, any publisher, advertiser, agency, or ad technology organization can design their own privacy and collaborative data environment and use Snowflake’s Media Data Cloud for their own customizable solution. Disney Advertising Sales has built a proprietary clean room solution for its clients, with Snowflake as a key strategic collaborator. Disney Advertising Sales’ cleanroom functionality gives clients advanced pre-planning insights, activation and cross portfolio measurement in a brand safe way.
- Healthcare & Life Sciences Data Cloud – With the Snowflake Healthcare & Life Sciences Data Cloud, healthcare companies have a single, integrated, and cross-cloud data platform that can eliminate technical and institutional data silos. This will enable organizations to securely centralize, integrate, and exchange critical and sensitive data at scale. By leveraging the Healthcare & Life Sciences Data Cloud, customers including Novartis and Siemens Healthineers, are unlocking data to deliver improved patient outcomes and care experiences, optimizing care delivery, and enhancing clinical and operational decision-making. Novartis is using the Data Cloud to optimize omnichannel engagement and accelerate time-to-market while collaborating more closely than ever with their healthcare partners.
- Retail Data Cloud – The Retail Data Cloud empowers retailers, manufacturers, distributors, consumer packaged goods (CPG) vendors, and industry technology providers, to leverage their own data, access new data, and seamlessly collaborate across the retail industry. Together, Snowflake and its ecosystem of partners are able to drive business agility, deliver exceptional, personalized customer experiences, and optimize operations for businesses across the sector. Hundreds of Retail and CPG customers use Snowflake. For example, Kraft Heinz built an advanced cloud data platform within Snowflake’s Retail Data Cloud, enabling the company to increase its pace of innovation, react faster to changes in the marketplace, and further its purpose to “make life delicious.”
Snowflake has been laser-focused in updating and developing new innovations to help customers generate the most value from their data:
- Snowflake’s support for unstructured data is now in GA. It includes built-in capabilities to store, access, process, manage, govern, and share unstructured data in Snowflake. Now you can manage and analyze your data–structured, semi-structured, and unstructured–across clouds in one seamless experience.
- Snowpark is now in GA. It is designed to let data engineers, data scientists, and other developers work with data more efficiently and effectively in their programming languages and tools of choice—including Scala, Python (in private preview), and Java—using familiar programming constructs such as DataFrames.
- Cross-cloud account replication. Expanding Snowflake’s native database replication, entire account metadata, including everything from identity and role-based access controls to governance policies to resource monitors, can now be automatically synchronized across clouds and regions for continuous availability while ensuring point in time consistency with the primary region. Currently in private preview.
- Improved replication performance. Increased efficiency of data replication capabilities has resulted in up to a 55% performance improvement as experienced by one of Snowflake’s largest customers, which in turn can translate to up to a 55% reduction in customer replication costs since Snowflake customers only pay for what they use.
- Expanded governance capabilities and integration. New capabilities like lineage visibility in Access History (private preview) and Object Dependencies (private preview in a future release), help compliance teams track and understand sensitive data. Snowflake’s native governance capabilities and new Governance Accelerated Program support an entire ecosystem of partner-delivered solutions and integrations to help customers discover and protect data.
- Improved Storage Economics. Recent changes to Snowflake’s storage representation of data have resulted in better compression, and reduced storage costs. This enhanced storage technology is available transparently, with no user action, no configuration changes, and no application or query changes. This is already rolled out to all Snowflake customers and will apply to newly written data.
- Improved Support for Interactive Experiences. The new set of updates released for high volume and low latency workload requirements can result in up to a 6x improvement on query throughput on a single compute cluster; and up to an 8x improvement in average query duration for those workloads. These enhancements are in private preview.
- Usage Dashboard. The new usage dashboard helps customers better understand usage and costs across the platform, making it easy to manage Snowflake accounts across the entire organization. The usage dashboard is in public preview.
- Global governance capabilities. Snowflake’s classification capability automatically detects personally identifiable information (PII) in a given table and leverages the tagging framework to annotate the data, allowing role-based policies to be used to control access to the data. Classification is in private preview.
- Anonymized views. This new capability can be used to protect privacy and identity in a dataset, while still retaining its analytical value.
- SQL API. The Snowflake SQL API enables custom and off-the-shelf applications to call Snowflake directly through a REST API, without the need for client-side drivers, thus reducing the complexity and administration overhead requirements. In public preview.
EMEA Corporate Momentum
Snowflake finished fiscal 2022 with impressive consumption. The company also announced its intent to acquire Streamlit in its first quarter of fiscal 2023, and expanded into new locations in EMEA. Key EMEA milestones from FY22, include:
- Product revenue grew 160% YoY to $155.8m, with global product revenue reaching $1.1bn.
- Worldwide net revenue retention rate was 178%.2
- 766 EMEA employees with nearly 4,000 employees worldwide.
- Snowflake expanded its availability in EMEA to the United Arab Emirates North (Dubai) region on Azure, and availability in Sweden (Stolkholm) region on AWS. With these expansions, Snowflake now supports 31 global regions across three cloud platforms (AWS, GCP, and Azure).
- Snowflake launched local offices, including in Israel and UAE.
- Snowflake announced its intent to acquire Streamlit. Together, the two companies will enable developers to build apps using tools they love with simplified data access and governance.
- Snowflake launched its Startup Program in EMEA, designed to enable the next generation of data startups to build on Snowflake.
- Snowflake launched its second Global Startup Challenge for early stage companies innovating in the Data Cloud. It offers three competition finalists the opportunity to be considered for an investment (total of up to one million dollars across the three finalists), as well as marketing exposure at a global scale.
- Snowflake acquired the team at Polidea, a software services firm in Poland, to accelerate product development. Additionally, Snowflake acquired engineers from Pragmatists, a Polish software house that develops custom software.
- Snowflake hosted its first Data For Breakfast in-person events after three years. The event was hosted in over 30 cities in EMEA, and attended by over 2,000 people.
- Snowflake will host its largest annual event, Snowflake Summit 2022, in-person in Las Vegas on June 13-16. There will be thousands of data professionals for 10 tracks, 250+ sessions and 100+ partners taking part in “The World of Data Collaboration”.
Snowflake in EMEA has doubled-down on industry specific customers, and digital native companies who are mobilising their data in Snowflake’s Data Cloud:
- The number of EMEA customers grew to 1,253, representing a 40% YoY growth, with worldwide customers at 5,944.
- 100% of Snowflake customers surveyed in the Dresner Advisory Survey 2022, said they would recommend Snowflake to other organizations for the 5th year in a row.
- Snowflake achieved a Net Promoter Score of 68, as of July 2021, with most customers recommending Snowflake to a colleague or a friend.
- Snowflake announced the winners of its first annual EMEA Data Drivers Awards, including Novartis AG, Monoprix, FIS, Lightsource bp, Żabka, and Wix. The awards represent the top individuals and organisations using Snowflake’s Data Cloud to innovate, grow, and transform their customers’ data strategies.
Snowflake Data Marketplace
Snowflake customers can tap into Snowflake Data Marketplace to discover and access helpful third-party data and services from more than 240 providers as well as market their own products across the Snowflake Data Cloud:
- Snowflake’s Data Marketplace listings grew 21% QoQ, to more than 1,100 data listings from over 240 providers. 
- “Try before you buy” will allow users to access sample data, evaluate if it meets the desired needs, and test if it will join properly with other data being analyzed, then seamlessly upgrade to the full dataset, all from within the platform.
- New usage-based purchase options that will enable consumers to transact entirely on the Snowflake Data Marketplace, streamlining the process of purchasing third-party data.
- The Snowflake Data Marketplace fuels the rich application development ecosystem and Powered By Snowflake program. Today, there are over 285 ‘Powered By Snowflake’ partners, including Zabka, Simcorp and Piano.