Snowflake announced Retail Data Cloud to help retailers break down the data and increase business efficiency and user experiences. The platform, according to Snowflake, brings together the company’s data platform, partner-delivered solutions, and industry-specific datasets.
Global Head of Industry GTM, Retail & CPG at Snowflake, Rosemary Hua, stated, “The retail industry has seen some disruptions of late due to the pandemic and ongoing geopolitical crises. These problems are a result of enterprises being unable to predict how customers are reacting to the changing circumstances.”
Snowflake announced Retail Data Cloud helps retailers, manufacturers, distributors, consumer packaged goods vendors, and industry technology providers to use their own data, gain access to new data, and collaborate across the retail industry seamlessly.
The Retail Data Cloud, which is based on Snowflake’s specialized cloud data warehouse, combines Snowflake’s highly scalable data warehousing, analytics, and compliance tools with access to third-party data sources and resources via a data marketplace, as well as various partner consulting services from Capgemini and Infosys.
Prebuilt data applications from various technology and consulting partners will be available in the Retail Data Cloud. A Retail Intelligence dashboard was created in collaboration with representation to allow merchants to bring in their data and obtain instant insights regarding pre-optimized working and hiring habits. Customers who want to apply machine learning to their data can turn to Amazon Web Services, Dataiku, or DataRobot for a speedier time-to-market.
The benefits of Snowflake’s Retail Data Cloud are:
- Integrating and operating from a single source all data, independent of source, speed, or format.
- Businesses may communicate data in near real-time across their ecosystems using three key public cloud platforms.
- Optimizing operations with elastic performance, scaling up at busy times to support analytical needs and reducing to optimize efficiencies and revenue.
Snowflake now has four industry-specific versions of its platform, with the two that debuted this year joining the financial services data cloud and the media data cloud, both of which debuted last year.