We have a data mart, and we are using it to share data with big enterprise customers with major security requirements.
Snowflake is an enormously useful platform. The Snowpipe feature is valuable because it allows us to load terabytes and petabytes of data into the data mart at a very low cost. Then we just share it out, and all the compute expenses are charged directly to our clients.
It would be better if they had a data profile tool that tells me where the gaps are in my time series data. We are anxiously waiting for them to release their data catalog and analytics capabilities, which is going to happen in June or July. If that works the way we think it might, then that would just extend our firm's capabilities into a space that we have never been interested in building ourselves. It could be a really good thing for us.
We started using Snowflake this year.
There's never any outage, and it's cross-cloud. The stability is not even a good question for that platform. It makes no sense to us.
Snowflake is scalable. It does cost more money, but it's some kind of magic they're doing behind the scenes that you don't have to think about. It's brilliant, and it's going to take over completely.
Their tech support is good. Their sales team is very technical, and they're able to speak to our engineers and walk them through what we need to do.
About three years ago, Databricks was sort of the hot thing among our clients, and everyone was using it for low-code analytics. We had to deliver data in a format that was specific to Databricks. Databricks had this massive growth, use, and adoption. They have a very good footprint now, but we see those same clients shifting their data to Snowflake, and pretty much nobody asks for Databricks anymore.
I think there's this big war sort of brewing between Databricks and snowflake. Snowflake is going to come out with the analytics capability that Databricks has. They're working furiously to get it released. I don't know what it's going to look like, but they're going head-to-head with Databricks. I think Snowflake is going to crush them.
In the beginning, we didn't know what we were doing, and we racked up huge compute costs, shockingly and quickly. But the sales team was extremely helpful and showed us where we were doing everything wrong, and they explained to us how best to use their platform. We have massively funded data engineering teams, but now our use has plummeted to almost free.
Because of the caliber of our customers at the time, we had to sign on to the enterprise subscription tier. We're a startup, and we didn't know it at the time, but the cost per credit for the enterprise tier was almost double.
The cost per credit, that's where you get all this unlimited autoscale that you don't even have to think about. We don't really need any of that because they already provide all the redundancy, backup, failover, and all of that stuff. We scaled down and cut all of our costs almost in half by getting rid of that scalability capability because we don't need that.
They give a different price for every single company. I don't know if I negotiated that well, but we got the enterprise tier for $3 a credit, and the other two were a dollar-ninety a credit. I suspect we don't have almost zero compute usage, but I know that our annual contract packages are below all of their minimums.
On a scale from one to ten, I would give Snowflake an eight.