Snowflake (NYSE: SNOW), the Data Cloud company, announced at its annual user conference, Snowflake Summit 2023, that the Snowflake Native App Framework (public preview on AWS) is now available for developers to build and test Snowflake Native Apps, with over 25 new Snowflake Native Apps now available for customers to install from Snowflake Marketplace. Snowflake Native Apps usher in a new era of data collaboration, enabling developers with the tools needed to create robust apps quickly with Snowflake’s high availability and auto-scalability, while helping to eliminate security and privacy hurdles for customers because the apps run directly within their Snowflake accounts, unlocking entirely new revenue streams and enabling thousands of Snowflake customers to easily discover and install these apps â without having to move or expose their data.
The Snowflake Native App Framework gives Snowflake Native Apps providers the necessary building blocks to develop faster, deploy more easily, and operate more effectively with the performance, scale, and efficiency of the Snowflake platform. With Custom Event Billing (public preview) and on-platform monetization (general availability) through Snowflake Marketplace, organizations can then seamlessly distribute and monetize their apps without having to set up cost-intensive billing systems. This native deployment and distribution model reimagines the traditional approach of copying data to apps, instead bringing the work to the data by enabling apps to run inside an end userâs existing Snowflake account. Customers no longer have to export or provide external access to their data, significantly accelerating the path to customer acquisition and adoption for providers.
âEvery type of data application has historically required customers to move or copy their data and entrust it to third-party vendors, which is particularly problematic when customer data is highly sensitive. The Snowflake Native App Framework reimagines the status quo, enabling developers to bring their apps directly to their customerâs data, without that data ever leaving the customerâs environment,â said Christian Kleinerman, SVP of Product, Snowflake. âWeâre making it easier, faster, and more efficient for developers to build and ship leading apps at scale, so they can focus on earning revenue from some of the largest companies in the Data Cloud, with Snowflake seamlessly taking care of security, privacy, and governance concerns.â
Over 25 Organizations Have Already Published Snowflake Native Apps Available Today on Snowflake Marketplace
Snowflake Marketplace already has over 25 new Snowflake Native Apps available today, and over one hundred providers are currently developing apps that span multiple industries and use cases. Leading organizations are building in the Data Cloud to easily bring unique insights to end users, from data clean room apps to apps supporting financial investment decisions, enabling end users to unlock value with just a few clicks on Snowflake Marketplace.
For example, The Depository Trust & Clearing Corporation (DTCC), the leading post-trade market infrastructure for the global financial services industry, is building Snowflake Native Apps in the Data Cloud to bring its models and user interface to more clients. DTCC is building both actual and hypothetical portfolios that their analysts and clients can leverage in Snowflake to model and predict scenarios, so clients are better prepared to navigate market events and associated risks.
âSnowflake Native Apps are an integral part of DTCCâs modernization journey, transforming how we enable our clients with enhanced access to our services, ultimately delivering greater market transparency, reduced risk, and increased operational efficiency,â said Lynn Bishop, CIO, DTCC. âBy building with the Snowflake Native App Framework, we can transform how our clientâs access, share, and leverage data across a number of DTCC services through Snowflake Marketplace, further modernizing the financial services industry and fundamentally altering how users process financial data.â
Other organizations building Snowflake Native Apps include:
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Bond Brand Loyalty: Bond’s Snowflake Native App, SynapzeXi, is a customer intelligence solution for organizations looking to enable personalization at scale on their data in Snowflake. SynapzeXi brings Bond’s customer engagement models and methodologies, proprietary benchmarks, and industry-leading IP directly to clientsâ data, reducing the time required to stand up and scale personalization and offer optimization. SynapzeXi also creates and optimizes item and segment-level offers for various marketing use cases using generative AI and advanced customer lifetime value models.Â
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Capital One Software: Capital One Slingshot helps businesses optimize their Snowflake compute spend, and reduce waste and inefficiencies. Through the Snowflake Marketplace, customers can quickly onboard to a free trial of Slingshot and start identifying their biggest cost drivers and areas of optimization to improve performance and drive tangible business value.
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Goldman Sachs: Goldman Sachsâ Legend app, built with the Snowflake Native App Framework, combines the Goldman Sachs Financial Cloud for Data with its open-sourced data platform Legend (github.com/finos/legend) to generate business insights for clients, business partners, and engineers by sharing relevant datasets and allowing clients to join these with their own holdings data.
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LiveRamp: LiveRampâs Identity Resolution and Translation solutions create an accurate and durable people-based identifier that protects personally identifiable information (PII) and enables interoperability across the ecosystem. Identity resolution replaces single-touchpoint identifiers (hashed emails, third-party cookies, MAIDs, and CTV IDs) to consolidate consumer data fragments for better measurement, personalization, optimization, and audience modelling. Translation connects a customerâs data to a partnerâs data through Snowflake by translating RampIDs into a common identity space, resulting in enhanced insights, analytics and interoperability with a wide network of partners.
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Matillion: Matillion’s Snowflake Native App, Matillion Connector for Google Sheets, allows users to create and schedule data loading pipelines to ingest data directly into Snowflake from Google Sheets, automating data loading for data engineers and storing the data directly inside an end usersâ Snowflake account for increased security and governance.Â
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My Data Outlet: My Data Outlet built a Snowflake Native App for joint customers to simplify the systematic investment research process across many financial data sources natively in the Snowflake Data Cloud. Since launching its Snowflake Native App late last year, My Data Outlet has already secured licensing agreements with multiple Investment Management firms and generated significant growth in annual recurring revenue from Snowflake Marketplace.
Snowflake Marketplace Continually Advances with Exclusive Content And New Ways to Purchase Data and Apps in the Data Cloud
Snowflake Marketplace continues to scale as the first cross-cloud marketplace for data and apps in the industry with over 36,000 unique visitors every month. Over the past year, Snowflake Marketplace has increased providers with publicly discoverable listings by 66% (year-over-year as of April 30, 2023), with over 430 providers publicly discoverable (as of April 30, 2023) and more collaborating privately. In addition, Snowflakeâs network effect measured by âstable edgesâ1 grew 84% (year-over-year as of April 30, 2023), and more than 25% of Snowflake customers have at least one stable edge (as of April 30, 2023).
Data content exclusively available in the Data Cloud on Snowflake Marketplace is also expanding with Cybersyn, a data-as-a-service company founded in 2022 by Coatueâs former Head of Data Science Alex Izydorczyk, providing proprietary economic datasets for corporations, investors, and governments. Cybersyn has also launched two Native Apps that enable customers to benchmark eCommerce sales and acquisition performance and monitor the US financial industry.
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To effortlessly tap into this expanding library of data offerings, Snowflake has introduced the Marketplace Capacity Drawdown Program (general availability), enabling customers to seamlessly buy data and Snowflake Native Apps with their Snowflake Capacity commitment. By enabling committed Snowflake Capacity to be used for Snowflake Marketplace purchases, organizations can now shorten lengthy procurement and contracting cycles like vendor onboarding, contract negotiations, and payment logistics. In addition, Snowflake is unveiling new capabilities that make it easier for customers to search and discover data through natural language processing on Snowflake Marketplace (in development), tapping into the power of generative AI to help all users connect to the relevant data they need faster.
Snowflake also announced new innovations that extend data programmability for data science, data engineering, and application development; advancements to its single, unified platform; and more at Snowflake Summit 2023.Â
