Snowflake

The Latest

15 March 2022: Snowflake announced its planned acquisition of data applications builder Streamlit. Snowflake’s goal is to integrate app building into its Warehouse-as-a-Service platform with simplified data access and governance features. 

Why it’s Important

There has been a growing trend in the acquisitions of analytics platform developers to boost product features and improve capabilities of data science tools.

IBRS expects more mergers and acquisitions among leading Cloud analytics vendors that will commence the initial stages of consolidating the hyperscale, elastic analytics market. It projects more integration of key components of the data analytics system in the next three years. In particular, data catalogues or data sharing solutions will become increasingly integrated with Cloud data lakes and data warehouses.

However, it is the use of centralised data repositories - data lakes and warehouses - to simplify the development of low-code apps that has been overlooked. One of the biggest challenges and costs for low-code apps development is integration. However, data analytics platforms have already integrated and normalised data from multiple systems. As a result, using these centralised data resources for low-code application development could be very attractive. 

Microsoft’s Dataverse is essentially this concept - albeit within the Microsoft world. Snowflake’s investments in Streamlit are an indication that there is a growing market for this use case.

Who’s impacted

  • COO, CIO, CTO
  • Business analysts

What’s Next?

Organisations should look at how their low-code initiatives tie into data analytics initiatives. Low-code platforms generate not only data captured from forms, but also metrics on how processes are performing - data which will likely end up being reported upon via analytics platforms. But there are also opportunities to leverage the analytics platforms to act as engines for low-code and rapid application development environments. Bringing the people involved in each of these areas together can reveal new opportunities to ‘streamline the process of streamlining processes’.

Related IBRS Advisory

1. VENDORiQ: AWS Accelerates Cloud Analytics with Custom Hardware

The Latest

02 November 2021: Snowflake recently released the Snowflake Media Data Cloud that allows access to real-time, ready-to-query data products, and services from more than 175 data providers. The data-sharing company announced that its product can combine consumer data across sectors to reduce data latency and improve accuracy.

Why it’s Important.

More Australian organisations now recognise that access to external data enables enterprises to create one-to-one or one-to-many relationships for more reliable insights into data. Since it is difficult for businesses to make sense of data they don’t generate themselves, sharing information between internal business units inside the same company or between outside organisations, has narrowed insight gaps aside from lowering the cost of data collection and research. Some recent developments in this area include the following institutions that have extended their data sharing:

  • In 2014, Coles revealed that its online shoppers using Flybuys would have their personal information shared with 30 companies under the same Coles umbrella as well as with third parties in more than 23 countries.
  • Woolworths first started granting access to its consumer shopping behaviour data with all of its suppliers in 2017 to support collaborative decision-making with a customer-centric approach. However, it remains obstinate against disclosing all companies that handle its data when asked to submit comments during the Privacy Act review in 2021.
  • In June 2021, Bunnings announced an upgrade of its tech platform to capture customer information to improve buyer experience. Its privacy policy page explicitly discusses how information is shared with third party businesses such as financial searches, security providers, market research firms, and payment collectors.
  • Likewise, Target Australia discloses customer information to its service providers based overseas and to external call centres, recruitment companies and external fulfilment businesses. 

Ensuring the rights of consumers whose data is being shared can be an issue and apprehensions about maintaining privacy and confidentiality are often raised. The government introduced open banking across the country to provide consumers greater control of their personal data, and with whom it is shared, when applying for banking services.

Enterprises in the data-sharing environment must also find ways to ensure fair and equitable advantage of the information by accessing the same level of data insights as their competitors do. 

Who’s impacted

  • CIO
  • Development team leads
  • Business analysts

What’s Next?

Enterprises need to address the challenges of sharing large scale datasets, such as adherence to legislative and ethical frameworks, using personally identifiable information (PII) for testing, defining the critical role of service providers and their limitations, and improving the overall context of each shared data environment. This can be achieved if policies, procedures and standards on data privacy and security are aligned with data ethics that engender trust among the myriad direct and indirect actors involved in data sharing. Whatever goals such practice entails (such as developing innovative ancillary products with business partners or improving customer care by analysing real-time dashboards for rapid issue resolution), making the best use of opportunities in the field needs to be secure, lawful, just and ethical to ensure that collaboration leads to better decision making when building upon the work of others and fostering a culture of trust. 

Related IBRS Advisory

  1. Beyond privacy to trust: The need for enterprise data ethics
  2. Three ways to turn employee engagement results into actionable and achievable plans
  3. Data loss by the back door, slipping away unnoticed
  4. How Australia must use the PageUp data breach to become stronger - AFR - 18th June 2018