Snowflake has launched a cloud-based, data-sharing platform for the healthcare {industry} that integrates the corporate’s core knowledge warehousing, analytics and enterprise intelligence choices with a knowledge market and on-demand consulting providers.

The Healthcare & Life Sciences Knowledge Cloud platform was designed in response to the rising burden on the healthcare sector globally because of the coronavirus pandemic. The SaaS (software program as a service) providing is an amalgamation of Snowflake’s core purposes and third-party providers.

As a part of the brand new cloud service, Snowflake provides machine studying and different purposes from know-how companions reminiscent of Alation, Dataiku, Amazon Net Providers (AWS), H20.ai, ThoughtSpot, Well being Catalyst, Strata and IQVIA. Integration among the many software program and different parts of the platform is supposed to scale back the time it takes for healthcare corporations to implement purposes and convey new providers to market.

The purposes assist enterprises entry massive volumes of knowledge at scale for important processes and enterprise insights from inside their group and in collaboration with {industry} companions, in keeping with Todd Crosslin, healthcare and life sciences {industry} principal at Snowflake.

Healthcare platform provides knowledge market

For its knowledge market, Snowflake has attracted corporations together with Compile, Equifax, Invaitae, IQVIA, Precision X, and SameSky Well being. {The marketplace} is designed to permit enterprises to securely trade important datasets, thereby eliminating the necessity for conventional knowledge sharing strategies requiring knowledge copying and motion.

“For instance, IQVIA aggregates knowledge from world wide, after which markets and sells that knowledge to international pharmaceutical corporations. However now what they’ve finished is that they’ve made the identical knowledge obtainable through the Snowflake Knowledge Market as 20 out of 30 prime international pharmaceutical corporations are on Snowflake. These pharmaceutical corporations are actually in a position to entry that stay knowledge from IQVIA through {the marketplace} as a substitute of copying it,” Crosslin stated.

On the consulting aspect, Snowflake has partnered with consulting administration corporations and system integrators reminiscent of Cognizant, Deloitte, Infosys, NTT DATA, phData, and SDG.

Enterprises can seek the advice of with these companions to speed up their transformation journeys or pace up their time to a important minimal viable product, Crosslin stated, including that there are a number of ways in which system integrators or consulting corporations may be engaged.

The packaging of Snowflake’s core providers together with third occasion services and products has been a current progress initiative for the corporate.

“Knowledge sharing and knowledge market choices grew to become an vital new thrust and market alternative for Snowflake in 2021. These choices promise to deliver the corporate even additional past the confines of knowledge warehousing and analytics,” stated Doug Henschen, principal analyst at Constellation Analysis.

This isn’t Snowflake’s first industry-specific cloud platform. The corporate has beforehand forayed into monetary providers and the media {industry}.

Trade-specific clouds ease partnerships

“The promise in Snowflake’s industry-specific cloud and related sharing and market capabilities is eradicating friction from innovation-driving and value-building partnerships. Snowflake’s stake is in gathering charges for facilitating these transactions, and it positive factors stickiness in being the platform normal for customers of those industry-specific clouds,” Henschen stated, including that Snowflake must maintain including companions to reach its try.

Nonetheless, he warned that knowledge marketplaces and knowledge sharing aren’t new traits and there have been failed makes an attempt by notable distributors prior to now. “At this time, AWS and Microsoft Azure, amongst others, have knowledge exchanges, however I don’t hear a lot about them.”

However Crosslin believes that the regulatory compliance necessities together with the consolidation pattern within the healthcare {industry} will increase the success of its new cloud knowledge platform. 

“Whereas corporations are nonetheless warming as much as the thought of knowledge sharing in healthcare, we’re seeing an rising pattern. Knowledge sharing is now not a one-way road and our compliances with regulatory requirements reminiscent of HIPAA [Health Insurance Portability and Accountability Act] be sure that clients who’re on Snowflake can simply share knowledge with one another,” Crosslin stated.