Over the past few years, a wave of digital transformation and disruption has moved across various industries. From retail to healthcare to finance, we have seen how personalization of services results in a better customer experience. Organizations of all sizes have managed to innovate by better understanding their users and connecting the dots between preferences, behaviors, demographics, and more.
The bedrock of these innovations is data. Enterprises are gaining tremendous insights and unlocking new use cases and revenue streams by leveraging not just internal data, but also external third-party data. However, the acquisition of third-party data products such as data feeds or data services is traditionally a very manual, lengthy process. This is partially due to the fact that data files need to be securely shared in some way, and then uploaded to a place where the purchasing party can properly evaluate the product alongside other enterprise data.
Snowflake Marketplace helps streamline that process. It enables data teams and business leaders to discover, evaluate, and purchase external data, data services, and applications (native applications are currently in private preview) they need to fuel data-driven decision-making for their businesses. Traditional data sellers, SaaS companies, and regular operating companies are already leveraging Snowflake Marketplace to create new revenue streams, bring new products to market faster, and provide better customer experiences while helping lower data integration costs.
Consumers can easily browse Snowflake Marketplace for available data products and applications, and get immediate access to samples via their Snowflake account, allowing for high-quality evaluations before they make a purchasing decision. Providers, on the other hand, can choose whether to list their samples and products for free or for direct purchase on Snowflake Marketplace.
Understand your customers better with Snowflake Provider Studio Analytics
As in any B2B or B2C marketplace, providers always seek to better understand their prospects and customers and want answers to questions about their listings, such as:
- Who is interested in using my products?
- How many leads are engaging with which product samples?
- Are paying customers getting continued value out of my products?
Snowflake Provider Studio Analytics delivers the insights providers need to more accurately and consistently answer these critical questions. Usage analytics in Provider Studio provide detailed visibility into the customer’s evaluation journey and usage history. Provider Studio also offers visualized metrics on the number of consumer listing views, requests, and installs (referred to as “mounts”), as well as how many queries were executed against a provider’s products.
Figure 1: Detailed metrics in Provider Studio help providers understand how customers engage with and use listed data products.
In Figure 1, default filters are applied showing the provider how many queries were executed against their public listings over the last 28 days. By selecting “By Region,” a provider can understand how many queries are being executed in which cloud regions.
Additionally, selecting “By Consumer” in the grouping filter allows a provider to understand which consumers have executed how many queries in which regions. Providers have the ability to slice and dice information by applying different filters for different time periods.
Providers are also able to get insights at an aggregate level on reach and engagement for their products, such as most viewed listings, most used listings, most active consumers, listing conversions, and more (Aggregated Metrics are currently in private preview). These analytics put providers in the driver’s seat on go-to-market strategies by helping them guide customers to the right data products and allowing them to optimize their products for greater adoption and relevance.
Figure 2: The Analytics Overview in Provider Studio shows reach and engagement aggregated metrics for listings (currently in private preview).
In addition to the analytics available in the Provider Studio, providers can run SQL queries on the DATA_SHARING_USAGE schema, which includes views that display information about listings published in Snowflake Marketplace or about their listings that have been privately shared with specific customers or business partners (Private Listings is currently in public preview). This includes metrics such as number of clicks, as well as consumption data including queries run by consumers.
Meanwhile, the LISTING_ACCESS_HISTORY view provides granular and aggregate-level views into which consumers accessed which objects (tables, views, functions, stored procedures) over time. These insights provide an additional layer of depth to allow providers to understand how their products are being used while helping preserve the privacy of their customers.
Embrace the analytics advantage
Provider Studio Analytics enables providers to grow their business in Snowflake Marketplace by surfacing qualified leads that can be easily acted upon and closed more quickly because providers can speak directly to their prospects’ and customers’ areas of interest. Providers can optimize their product offering by diving into which data objects their customers use most, as well as proactively reach out to paying customers who are not fully utilizing their products to help them get value out of the data.
If you’re already a Snowflake Marketplace Provider, start exploring your Provider Analytics in Snowflake Provider Studio today! To become a Snowflake Marketplace Provider and start collaborating with your clients in the Data Cloud, sign up here.
Originally posted on September 27, 2022 @ 9:31 pm
