the Netflix of databases
So far as I can tell, Snowflake is basically an SQL interface smeared on top of Amazon S3.
The web client is not at all bad. Once Amazon has that bit stolen, its lunch is swallowed, digested and shat out again.
IPO darling Snowflake's share price took a beating in an already bearish market for tech stocks after filing weaker than expected financial guidance amid a slowdown in orders from some of its largest customers. For its first quarter of fiscal 2023, ended April 30, Snowflake's revenue grew 85 percent year-on-year to $422.4 …
Analysis Under Nevada's baking summer sunshine, Snowflake last week promised it would bring together two ways of working with data that mix about as well as oil and water.
The data warehouse vendor – well known for its stratospheric $120 billion post-IPO valuation – said it would support both analytics and transactional workloads in the same system.
Launched at the Snowflake Summit 2022 in Vegas, Unistore would be the "foundation for another wave of innovation in the Snowflake Data Cloud," said Christian Kleinerman, senior vice president of product. "Similar to how we redefined data lakes and data warehouses for our customers, Unistore is ushering in a renaissance of building and deploying a new generation of applications in the Data Cloud," he said.
Cloud data warehouse specialist Snowflake is broadening its toolset to allow devs to build applications inside its platform, while providing a new row-based storage engine to support analytics on transactional data.
Launched at its annual conference this week, the features are part of a plan to encourage users – and investors – to no longer see it as a mere cloud data warehouse and to view it more as a platform for sharing data and data-analytics applications.
Snowflake is supporting new transactional workloads in something it calls Unistore, which is based on Hybrid Tables supported by a new row-based storage engine to better handle transactional data.
Data warehousing specialist Teradata is taking a $60 million hit by ending sales, operations and support in Russia following the country's invasion of Ukraine.
CFO Claire Bramley told investors that of the $60 million, around $10 million was removed from first quarter revenue, leaving a $50 million impact expected across the remaining three quarters of 2022.
Teradata CEO Steve McMillan said: "In the quarter, we stopped conducting business in Russia, ceased customer interactions and services with all Russian accounts, and confirmed that we do not have any suppliers critical to our supply chain from Russia or Ukraine. Our actions were managed with a priority of support and care for our employees who were directly affected.
Cloud-native data warehouse outfit Snowflake – once valued at a heart-thumping $120bn following its 2020 IPO – saw 30 per cent wiped off its value in after-hours trading yesterday as it lowered guidance on revenue forecasts.
Execs said part of the reason for reducing growth estimates was that new product features meant customers could use its platform more efficiently, doing more with less spending.
The distributed database company also found $800m for the purchase of Streamlit, creator of a framework designed to simplify and accelerate the deployment of data applications.
Teradata is still working to shake off its image as an on-premises data warehouse provider by highlighting annual recurring revenue in public cloud of $202m for calendar 2021, nearly doubling from $106m in the prior year.
However, the 91 per cent year-on-year increase came in 9 points lower than 100 per cent growth the company had forecast at an investors’ day last in September, and it remains a small part of overall sales.
For Q4 2021, total revenue for the biz was down 3 per cent on the same period a year earlier to $475m. Total recurring revenue was $364m, perpetual software licenses and hardware was down 44 per cent to $19m, and consulting services fell 17 per cent to $92m.
Snowflake, that cloud-only data warehouse much loved by investors, has been named DBMS of the Year for 2021 by tracker site DB-Engines.
Once valued at $120bn, Snowflake has not only produced the first software-as-a-service to win the accolade, but it is also the first data-warehouse focused product that makes it into the top three of this award.
It is joined in the top three by three-times previous winner PostgreSQL, which came second, and third-placed MongoDB, which took the top prize in 2014 and 2015.
Cloudy data-cruncher Snowflake has added Python support to its "Snowpark" developer toolkit.
Clive Astbury, a regional manager for sales engineering, told The Register that customers have expressed frustration at needing to export data from Snowflake to put the popular programming language to work. Adding support for the language solves that issue. Snowflake worked with Anaconda for access to pre-groomed Python libraries in an arrangement it is hoped will reduce dependency dramas.
The Snowpark dev kit has also gained the ability to use Java Functions to enhance its ability to process unstructured data – vids, pics, and docs – so they too can be fed into Snowflake's analytics and ML engines. Another new feature is stored procedures to let code run inside Snowflake instead of an external client.
Automated data integration outfit Fivetran has confirmed a $565m funding round – valuing the company at $5.6bn, roughly the GDP of Montenegro.
Meanwhile, the 2013-founded company has used some of its startup capital and bought data replication firm HVR, which employs log-based change data capture (CDC) technology, in a cash-and-stock deal worth around $700m.
The investment arm of web pioneer Marc Andreessen (a16z) led the Fivetran funding round, which also included General Catalyst, CEAS Investments, and Matrix Partners, and takes the total startup capital to $730m to date.
Cloud-based data warehouse darling Snowflake has launched its latest venture into financial services, while Teradata, something of a stalwart in data warehousing for banks and insurers, is attempting to broaden its appeal with machine learning implementations.
Though the world has been focused on Snowflake's stratospheric rise – it went from $1.5bn value in 2018 to $120bn shortly after its IPO last year – it may struggle to make inroads into the lucrative financial services markets, according to insiders and industry experts.
The so-called cloud-native data warehouse biz launched what it calls the Financial Services Data Cloud this week, accompanied by the claim that 57 per cent of Fortune 500 firms in the sector are on its platform. It is described as an industry-tailored platform that brings together Snowflake technology with "partner-delivered solutions" and "industry-critical datasets."
Among the blizzard of new language support for Snowflake's data warehouse this week was a plan to beef up its data marketplace, which promises users somewhere to buy, sell, and otherwise share data on the platform. The problem is that it is far from the only game in town.
SAP, by sheer coincidence, also launched a data market plan this week, a few weeks after Databricks announced its open standard for data sharing, hoping to get a more vendor-neutral approach to the thorny problem off the ground. The application giant and the data lake poster child join other tools for cracking the nut, including those peddled by long-time data integration specialist Informatica.
The point of Snowflake's Data Marketplace is to make it easier to ingest third-party data, into the analytics environment, as it is all in Snowflake's architecture. Last November, it announced third-party service providers would have the option to enrich data by running risk assessments, augmenting a data set with behavioural scoring, or "simply outsourcing the more advanced analysis" without having to move the data, Snowflake said at the time.
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