The Race to Build Industry Data CloudsSnowflake and Databricks are the latest to introduce industry-specific data apps and servicesHello to all of the new Cloud Database Report subscribers — it’s great to have you with us! The database industry is rapidly moving in the direction of deeper industry-specific specialization. This trend is being driven in part by a growing requirement for domain expertise — businesses want to work with tech companies that understand the dynamics of their market — but there’s an essential data-management component to it, as well. Within each industry, there are idiosyncrasies in areas such as data types, transactions, analytics, business processes, and governance. Industry data clouds package cloud infrastructure, applications, and other technologies (AI, ML, etc.) for implementation by organizations within particular industries. Snowflake is the latest cloud database provider to introduce new vertical-industry solutions, but it’s by no means the only one. Oracle is spending $28.3 billion to acquire Cerner, which will bolster Oracle’s offerings in the $3.8 trillion healthcare market. Databricks, Google Cloud, Microsoft, SAP, Teradata, and others are likewise building and expanding their know-how and data services across industries. Recent Developments Include:
The Wider TrendIndustry data clouds (emphasis on data) are emerging in lockstep with the broader trend of industry clouds, which are similar in concept but wider in scope. AWS, Google Cloud, Microsoft, Oracle, Salesforce, SAP, and others are building and expanding industry clouds at a breakneck pace. In one example among many, Microsoft announced general availability of the Microsoft Cloud for Retail in January. More recently, Microsoft closed the acquisition of Nuance, which specializes in conversational AI and “ambient intelligence,” with domain expertise in healthcare, financial services, telecom, retail, and other industries. Microsoft now offers industry cloud solutions in automotive, consumer goods, education, energy, finance, government, healthcare, manufacturing, media, retail, and telecom.
5 Benefits of Industry Data Clouds
What’s Next for Industry Data Clouds?Another twist on this phenomenon is that the Big 3 cloud providers — AWS, Google Cloud, and Microsoft — are striking far-reaching alliances with major players within industries that combine their respective strengths. In Q4 of 2021, Google Cloud announced a 10-year, $1 billion partnership with CME Group to transform the global derivatives market, working together to provide clients with real-time data and analytics capabilities, among other products and services. Similarly, AWS teamed up with Goldman Sachs to provide new data management and analytics solutions for financial institutions. All of the above has happened within the past few months. While the activity is picking up, we’re still in the early phase of industry-specific data clouds. Watch for continued innovation in cloud-native, modern data management across industries.
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The Race to Build Industry Data Clouds
The Race to Build Industry Data Clouds
Snowflake and Databricks are the latest to introduce industry-specific data apps and services
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