Snowflake launches data cloud for retail
In another step to help enterprises better mobilize their data, Snowflake announced the launch of a retail data cloud.
The offering comes days after the launch of the Healthcare and Life Sciences (HCLS) data cloud and aims to serve as a dedicated platform to address the challenges facing retail stakeholders – retailers, manufacturers, distributors and suppliers of consumer packaged goods ( CPG) – are faced while trying to extract value from their datasets.
“The way consumers, retailers and brands interact is changing rapidly and the data organizations need to understand and adapt is not as available or easy to work with as it should be. Whether a company is working to deliver more personalized purchasing experiences or adapting to supply chain challenges, shortages or inflation – among other things – the necessary data is being disseminated to internal and external stakeholders,” Rosemary Hua, Snowflake’s GTM retail lead and CPG industries, Venturebeat said.
How does Retail Data Cloud help?
The new Retail Data Cloud solves this challenge by bringing together industry-specific data sets and different partner solutions on one platform. In this way, it encourages industry-wide collaboration, giving stakeholders access not only to their own data (which can be siled by legacy systems) but also to new information from other, external sources.
“Our new Retail Data Cloud breaks through data silos within and between organizations, providing retail organizations with the specific AI and analytics tools they need to make fast, insight-driven decisions to overcome obstacles and adapt to trends across functions – from manufacturing to logistics, marketing, merchandising and more. In short, no matter where in the retail ecosystem an organization is, we make more data available and easier to work with so they can optimize every part of their business.” huh.
Snowflake notes that enterprises using the Retail Data Cloud can share real-time data across the ecosystem with all major public cloud platforms. To ensure strict data governance and regulatory compliance, the company leverages a range of easily managed security capabilities, including data cleanrooms, double-blind joins, restricted queries, centralized RBAC (role-based access control and row/column-level obfuscation that enables data). to be shared without movement and risk of revealing personally identifiable information.
Solutions for industry-specific problems
On the partner solutions side, Retail Data Cloud provides enterprises with applications/products, curated by Snowflake’s technology, consulting and data partners, to solve industry-specific problems and shorten time-to-value.
“We are announcing new joint solutions to be launched on Monday, March 28,” said Hua.
“For example, AWS is bringing Vendor Central and enhanced PO forecast data to Snowflake for consumer product brands selling through Amazon.com’s marketplace. Another example is Numerator (Snowflake Data Marketplace partner) which is bringing a new product called Secure Enrich, which is built on the cleanroom of Snowflake data. Retailers and brands can leverage and join these new datasets directly in their own Snowflake environment, making it seamless to manage inventory and enrich customer data,” she added.
Currently, the Retail Data Cloud is used by players like 84.51°, Albertsons, Kraft Heinz and Rakuten. In total, Snowflake claims that more than 1,000 retail and CPG companies have signed up for its platform, which supports six major workloads: data engineering, data sharing, data warehousing, data application development, data lake and data science.
Notably, a similar offering has also been put together by Databricks and Dremio as part of what they call the data lakehouse approach. Databricks in particular has strengthened its offering with partner integrations and vertical-specific offerings. The company was last valued at $38 billion, while Snowflake’s current (as of March 25) Market capitalization stands at about $66 billion.