FactSet to Launch Datasets on Snowflake
FactSet, a global provider of integrated financial information, analytical applications, and industry-leading service, announced that it will deploy its proprietary datasets, both structured and unstructured, on Snowflake, the cloud data platform, providing investment professionals with immediate and scalable access to content in a cloud-built SQL data warehouse.
Snowflake helps users centralize, integrate, and analyze disparate data sources in the cloud for faster and more cost-effective decision-making. FactSet’s strategic relationship with Snowflake means clients will be able to leverage FactSet seamlessly and efficiently alongside additional content already hosted on the platform. This availability will provide clients with immediate and secure access to data for evaluation and testing, eliminating the need for the extract, transform, and load (ETL) process.
“FactSet offering its data through Snowflake reduces the time and effort it takes to integrate new datasets into our investment process,” said Pete Petersen, Chief Technology Officer of Causeway Capital Management. “Everyone in the industry is searching for ways to make further efficiency gains. Aggregating our entire range of data sources in Snowflake means we can ensure consistent and transparent data integrity across every department and job function without having to manually update or upload content. This is a key component of our data capability model.”
Snowflake’s architecture separates data computation from storage, giving users the ability to quickly and easily scale their resources for unlimited concurrent users. The platform delivers governed access to all content across the three major cloud providers and serves as an integrated environment where clients can build data applications in a cost- and time efficient way. Snowflake has over 2,500 customers globally across multiple industries, including healthcare, technology, and finance.
“FactSet is investing in key areas of our business and aggressively pursuing our digital initiatives to address client needs,” said Gene Fernandez, Chief Technology and Product Officer, FactSet. “Delivering FactSet data through Snowflake provides faster access to data whenever and wherever our clients require it, regardless of their location or what cloud platform they use.”
“Snowflake is committed to enabling clients to break down barriers to real-time data access both within their organizations and externally with business partners,” said Christian Kleinerman, Vice President of Product, Snowflake. “FactSet is a trailblazer in the financial data and software industry, and with Snowflake, the company is extending access to its market-leading data in yet another open and flexible way.”