Thank you for joining us on "Data Cloud Now,"
where we bring you the latest
in all things data in business and industry.
Today, we are covering the infinite possibilities
that data is bringing to the financial sector.
I'm now passing things off to our DCN correspondent
in Mumbai, India, Gautam Srinivasan, enjoy.
Thank you Ryan.
I'm Gautam Srinivasan, and welcome to "Data Cloud Now."
And with me now is Clarke Patterson,
Senior Director for Market Intelligence at Snowflake.
Clarke, thank you so much for joining us.
Now, flexibility is the name of the game
for a lot of customers as they embark
on their multi-cloud journey.
So, in that context I want to know from you first
are sort of these world ecosystems
the new silos for the enterprise?
Yeah, I think silos is a very interesting topic.
I've been in the data space for a very long time,
and the silo conversation has always been
around the data itself.
And as we've moved to the cloud
there's a couple of dynamics that I think
have emerged here in the context of silos.
So, there's definitely the data silos themselves
where it's very easy for data to reside
in multiple different locations on premises, in the cloud,
and customers have to deal with that,
and if they don't, it definitely is
this ecosystem of silos problem.
But then there's also workload silos as well
as we start to want to transform and process
and analyze data in different ways
there's multiple different types of technologies
that adopters look at,
and that technology sprawl in and of itself
can create silos too.
And then the last aspect of it is
we're just kind of an interconnected,
collaborative world nowadays, right?
And that applies to data too.
And more and more we see organizations
that want to collaborate with one another
across their data and their ecosystems,
and if they're not doing that effectively,
something that we enable in the Data Cloud,
they find themselves in a silo
in and amongst their own organization.
And so, it's multifaceted,
and I think it's a great opportunity for Snowflake
and what we're doing with the Data Cloud
as we help companies on their journey to the cloud.
Absolutely, and taking that forward,
Snowflake's products have helped customers address silos
in their workloads and in their organizations.
And now you're truly setting their data free
by allowing it to reside wherever your customer wants it.
So, I want to know from you what are the benefits
which are unlocked for enterprises
when that data is set free?
Yeah, I think there's a couple of examples
that I would highlight.
One is the people want, as I kind of alluded to before,
they want some flexibility in terms
of how they interact with data.
And so, our ability to allow organizations
to work on raw data directly,
if they have like a data lake strategy,
which is something that Snowflake supports,
they can deal with that directly
in its raw format in their data lake
and don't have a hard requirement to move it.
They can use Snowflake to go
directly at that and gain a lot of value.
Another very interesting scenario that I see
is supporting multi-cloud strategies.
And this one's kind of not so much how companies
define their infrastructure in the cloud,
but it's more how they enable data access and collaboration
with others through multiple clouds.
So, you could have an organization say
that has data on premises,
and we have the ability now in Snowflake
to allow an organization to access that data directly.
It looks as though it's directly into, it's in Snowflake.
That company doesn't necessarily need to be kind of cloud
in its partnership with whomever owns that data on premises,
but inherently that becomes
a multi-cloud type of relationship instantly.
Similarly, we see organizations that are on one cloud,
AWS say, and they have partners and suppliers
that are on different clouds from them.
They don't really think of that as a multi-cloud scenario,
but when they start to collaborate and unlock the benefits
of sharing and collaborating across the two
it becomes a multi-cloud relationship.
And so, I think that's very, very interesting.
Absolutely, now every industry has specific needs,
and you have specific versions of your data platform
tailored for retail, media, health care, finance.
So, I want to hear from you stories of early adopters
when they use these specific versions.
Yeah, yeah, so we have this notion
of an industry data cloud.
We have financial services, retail data clouds,
as you alluded to, and it's a new way for organizations
to solve industry-wide problems.
And I think the thing that I would touch on before
kind of in an example is how it's helping companies
transform how they solve core business process challenges
that they've been struggling with for years frankly.
In the old world, it kind of comes back to the silos again,
you would look at solving an industry problem
or an industry solution
in the context of your business, right?
So, maybe you're trying to fix a supply chain problem,
and it was always very much around
just your unique organization.
And it was okay, but it only got you so far.
And it limited the benefit that you could get
through your partners and suppliers and others.
Through the industry data cloud,
because it's very collaborative in nature,
we're actually taking the concept of solving
industry solutions from an individual organization
out to the industry itself, right?
So, we can start to say how could we transform
customer relationship management,
how could we transform fraud, and things like that?
And really do it through the lens of the ecosystem
within that industry, which clearly benefits
the individual customers within that segment.
But we can start to think about how they're starting
to solve problems in ways that they couldn't before
for the benefit of everyone.
Absolutely, and we have just scratched the surface.
I want to know from you how are cloud journeys
going to evolve from here on, especially in the context
of improving data pipelines and resource efficiency?
One of the main advantages of the Snowflake Data Cloud
in helping companies with their journey to the cloud
is simplifying the amount of effort involved
in pipelines themselves.
You can conceivably think of pipelines
as benefiting from not having to move data
because it's inherently connected
across the multiple different stakeholders
that live in the Snowflake ecosystem.
And so, when you don't have to transform,
you don't have to move, data's instantly available
in the Snowflake Data Cloud,
then you obviously are driving an instant efficiency, right?
So, you're taking steps
out of the processes in its entirety,
and I think we're going to see more and more organizations
that tap into the data that exists in the ecosystem
that they live in in the Snowflake Data Cloud.
And that's going to proliferate efficiencies
across pipelines for more and more companies.
Right, now simplicity, flexibility, and sharing,
those have been the three key advantages of Snowflake.
So, for all our viewers, what's going to be the next
competitive advantage for Snowflake?
Well, I'll give you two.
I think there's multi-cloud and cross-cloud
would be the first one,
and applications would be the second.
And I think the multi-cloud, cross-cloud
is very interesting, again, from a Snowflake standpoint,
where we are quite literally delivering
a single experience platform regardless
of how organizations want to build and define
their cloud infrastructure underneath.
So, you might say hey look, for various reasons
I need to be on AWS and Azure,
and I need to be deployed here in Mumbai
and maybe I need to be in the West Coast
in the United States as well.
You can go and do that,
in any kind of variation of where Snowflake resides
you can go and do that.
And the experience is exactly the same
when someone comes and interacts with Snowflake.
And so, I think that's very, very interesting,
and it's absolutely a unique characteristic of Snowflake
in the data cloud is that it's that single experience.
What that lends to is this kind of second area
that I think is exciting for me is apps,
and we're seeing more and more organizations
are just becoming data-driven.
Applications are inherently data-driven and data-enabled,
and Snowflake is becoming a de facto place
where companies are using us as the backbone
for building their modern data-driven applications.
And of course, they can host and deploy and monetize
those things directly in the Snowflake Data Cloud.
We're at just the tip of the iceberg in that regard,
and I think there's, we're going to see
some very exciting things happening in the apps world.
All right, that's the perfect segue for my last question.
I want to ask you what excites you the most
about data-driven change in businesses around the world?
I think it kind of goes back to what I was saying
around the industry data clouds.
It's looking at problems in different ways.
I think we have an opportunity through collaboration,
through getting our arms around more data,
through instant access to resources
and compute and infrastructure that we can try things
and kind of like try and deploy and find solutions
to things way more rapidly than we could before, right?
And that's totally enabled by the cloud.
And of course, Snowflake in the cloud
and this connected ecosystem allows us
to do that in a very collaborative way.
When I try to solve a problem by myself
and you try to solve a problem by yourself
we can get so far,
but if we collectively come together
we could probably do things
that maybe we didn't realize before.
And we're really enabling that,
and I think that's very exciting.
We're going to see the Data Cloud enable
across all industries into the future.
Absolutely, lots of exciting developments coming up.
So, watch out for this space and remember,
increasing the value of your data ecosystem
by giving you more control.
That's how customers benefit with Snowflake Cloud.
Thank you so much
for sharing your thoughts Thanks for having me.
with us here on "Data Cloud Now."
Thank you so much.
And of course, thank you to our viewers for tuning in.
Stay tuned, we've got lots more lined up here
at the Data Cloud World Tour India series.