Capital One Financial Corp. recently launched its new enterprise B2B software business, Capital One Software, which focuses on providing cloud and data management solutions for companies operating in the cloud.
The business unit’s first product release is its Slingshot platform, a data management solution for customers of Snowflake that helps businesses accelerate adoption of the Snowflake Data Cloud, manage cloud costs, and automate critical governance processes
“We realized that with all of this power comes a lot of responsibility,” said Patrick Barch (pictured), senior director of product management at Capital One Software. “And so we needed to make sure that we were putting good governance and good controls around our usage of Snowflake from the start. So, we needed to build some tools to help us optimize our usage of Snowflake.”
Barch spoke with theCUBE industry analysts Dave Vellante and Lisa Martin at Snowflake Summit during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed the Capital One/Snowflake partnership and how it’s manifesting cross-industry shared expertise. (* Disclosure below.)
Creating a streamlined product on top of Snowflake
Capital One opted for Snowflake sometime around 2018, according to Barch. The company wanted to migrate from its owned and operated data centers to the public cloud. To do so, it had to build custom infrastructure to operate at scale. Those tools have made the company’s Snowflake implementation efficient, purposeful and cost-effective.
“With these tools, we’ve been able to save about 27% on our projected Snowflake costs,” Barch added. “We’ve been able to save our teams about 50,000 hours of manual effort by reducing the number of change orders that they have to execute manually through automated infrastructure management. We also reduced our cost per query by about 43%.”
Being one of Snowflake’s largest customers, Capital One noticed commonalities between its pain points and those of other companies. Thus, Slingshot allows users to gain visibility through proactive alerts, manage costs, automate governance with custom workflows and dynamic provisioning, and federate warehouse administration.
“There are hundreds and hundreds of different solutions, but they are point solutions. They’re all going after an individual piece of the management puzzle. What we found was that we needed to create these integrated experiences that were aligned to a team’s jobs to be done,” Barch concluded.
Here’s the complete video interview, part of SiliconANGLE’s and theCUBE’s coverage of the Snowflake Summit event:
(* Disclosure: TheCUBE is a paid media partner for the Snowflake Summit event. Neither Snowflake Inc., the sponsor for theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)
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