How cloud data platforms are redefining the business status quo

“Covid-19 has really changed the paradigm in terms of accelerated adoption and acceptance of software-as-a-service products,” says Geoff Soon. He’s the managing director of cloud data firm Snowflake’s South Asia operations.

That’s true in many ways. Even before the Covid-19 pandemic, the business world was already well on its way to embracing the notion that all companies are and should be digital businesses. In fact, spending by legacy companies on digitalization was soaring into the trillions of dollars by the time lockdowns all over the globe were put in place. The pandemic sped things up even further.

“Less than three to five years ago, there were very few video conferencing options, but now, you have this massive acceleration in the adoption of Zoom,” Soon says. The change in the macro environment emphasized the prevailing trend, emboldening organizations to make dramatic changes to their businesses.

“You now have to prioritize [digitalization], and you’re forced to assess if you can use a technology within your environment in a safe and secure manner,” he adds.

Geoff Soon, managing director of Snowflake’s South Asia operations / Photo credit: Snowflake

Data’s crucial role

Amid this sea of change, data – known as “the 21st century’s oil” – has become a linchpin asset for companies that want to make the most of the rapidly growing digital economy.

“Because of Covid-19, supply chains are changing constantly,” shares Soon. “Analytics has really moved to the forefront as a key tool for decision-making across entire enterprises.”

But in the post-pandemic reality, Soon adds, organizations can’t keep relying on data analytics tools that simply report on past performance. The data technologies of tomorrow also have to be predictive in order to account for the uncertainty in the business climate.

Enter the public cloud.

Cloud data platforms allow organizations to manage first, second, and third-party data. These include information generated in-house, data generated within a supply chain – for instance, exchanges between a company and its bank or suppliers – and data from unrelated parties like government agencies.

That’s what Snowflake is trying to do with its cloud-based offering, which it calls Data Cloud. “What our platform really wants to enable people to do is aggregate the data, analyze the data, and most importantly, take action from it,” shares Soon.

According to the executive, it’s also important for these platforms to provide an efficient, automated method of onboarding new data types. “There is nothing more frustrating than having to wait months to onboard a data source that you know will dramatically improve your prediction model,” he says.

Last but not least, cloud data services should also be able to accommodate the needs of different kinds of users – from detail-oriented data scientists to big-picture strategists.

With the impact of Covid-19, many traditional organizations have begun to rethink their on-premise investments, pushing companies to adopt cloud-native offerings.

That said, access to data insight technologies that are affordable, flexible, and scalable has been difficult to come by, especially for startups. But that’s all changing thanks to the rise of consumption-based public cloud options, which charge users only at the moment when services are used.

“If you look at startups, their basic model is ideation, a minimum viable product (MVP), then several iterations,” Soon explains. “During this ideation and MVP phase, they need cost-effective, easy-to-use services.”

Photo credit: Snowflake

Making Data Cloud accessible for startups

Snowflake offers its clients access to its product Data Cloud, which it describes as a global network where organizations can mobilize data. The platform not only helps businesses run data analytics and build new features, but it also allows them to share those insights with their customers, distributing information much in the same way content delivery networks circulate video files.

This focus on accessibility runs deep, even affecting the computing language Snowflake and other such services employ.

By building their platforms using more common computing languages such as Structured Query Language, cloud services make it easier for customers to adopt their platforms. Even if staff turnover occurs, which is inevitable in the post-pandemic era, new employees can easily come in and pick up where things left off.

“Due to Covid-19, it’s very hard to get access to talent, and I think that’s driven a lot of startups to reconsider the do-it-yourself approach [for their cloud needs] because it’s just so difficult to maintain,” Soon explains.

What’s more, these cloud services can also help with regulatory and compliance requirements, which are particularly important for startups in the healthcare or financial services spaces.

For example, Snowflake has earned the Payment Card Industry Data Security Standard certification. This allows fintech startups that use its platform to accept credit card payments without applying for those certifications themselves, which is often a costly affair.

Ultimately, when it comes to startups, the most challenging thing is “finding a way to focus on the business and not so much on the technology,” Soon says. “The Data Cloud is here to back up the vision of these founders.”

Snowflake provides access to Data Cloud – a global network where thousands of organizations mobilize data with near-unlimited scale, concurrency, and performance.

Find out more about how Snowflake can help your startup by signing up for its Snowflake for Startups program here.

This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.