Investors had anticipated a blockbuster opening for the company, which is generating over $500 million in annualized revenue and grew over 130% in the first half of 2020.
#Is snowflake pro worth it software#
The company raised more $3 billion based on its opening price, the most ever for a software company. Tomorrow's another day, we'll see what it brings." "It's like talking about the weather, it is what it is. "A stock is worth exactly what somebody wants to pay for it," CEO Frank Slootman told CNBC just after the stock began trading. Maybe the product has grown and scaled up from where it was.Snowflake was worth $70.4 billion at the end of trading, more than five times its $12.4 billion valuation in February. If I were to consider Snowflake as a silver bullet, it should be equally savvy on both ends, which I don't think is the case. There are fundamental differences between these two structures. One is flat, and the other one is distributed. One is for heavy or frequent changes and amendments, and the other one is for frequent reads. One is manipulation-heavy, and the other one is read-heavy or analysis-heavy. It is very difficult to be savvy and friendly with both structures because these structures are different and address different kinds of needs. Snowflake is more friendly with the dimensional structure or the data masks, which is characteristic of a Kimball model.
It is not that friendly with relational structures. The third thing is related to the capability of dealing with relational and dimensional structures. Many enterprises have huge impetus and urgency to move to Snowflake from their existing data warehouse, so, naturally, this is an area that is critical. It should be compatible, well-structured, and well-governed. They can make the migration a little bit more seamless and easy. The second thing is related to the migration from other data warehouses to Snowflake.
For a typical retail industry, such as the pharma industry, if it can get into the functional space as well, it will be a big shot in their arm. Snowflake is a very strong product with credit. Snowflake might want to offer industry-specific models for the data warehouse. The first one is very specific to the virtual data warehouse. I am not very sure whether they have already done it. There are three things that came to my notice. If it supports SQL-based procedures, then you can just cut-paste the SQL code, run it, and easily fix small issues. For this, you need to learn JavaScript and how it works, which is not easy and becomes a little tricky.
I remember seeing some notes saying that they were going to do that in the future, but the sooner this feature comes out, it would be better for Snowflake because there are a lot of clients with whom I'm interacting, and their main hurdle is to take their existing Oracle or SQL Server stored procedures and move them into Snowflake. It seems that they are working on this feature, and they are yet to release it. It would be a huge advantage if you can write your stored procedures using SQL. Currently, Snowflake stored procedures use JavaScript, but they should support SQL-based stored procedures. Porting all of your existing SQL ecosystem, such as stored procedures, to Snowflake is a major pain point. Portability is a big hurdle right now for our clients.
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