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Monetize Your Data With the Snowflake Platform
Snowflake has announced a new data exchange allowing businesses to generate new revenue by exposing data through a secure and governed data exchange that is directly compatible with the Snowflake platform.
The exposed data, which is shared by this service, enables analytics and insight by merging and marrying this data with other data sets.
Customers of this data will not incur any storage fees except the fee to purchase the data. This makes it much more accessible to organizations that have a larger capital expense budget.
Our Take
This move has been a long time coming. The first to create a platform to truly monetize data should be a very successful story. We were waiting for a company with enough history in this space to take the first step. With Snowflake’s cloud first model and its recent massive market penetration, this could be the start of something very big with data.
As buying data may well be considered a capital expense, can this data then be amortized over a time period for accounting purposes?
Check out SoftwareReview's Big Data Data Quadrant, Accessed August 20, 2019