It doesn't take long to hear the phrase "data is the new oil" when investing in the tech space. While this analogy shouldn't be taken too literally, it isn't that far-fetched. Businesses are generating mountains of data, and, if harnessed correctly, data can provide valuable insights into consumer behavior, business execution, and efficiency metrics.
However, processing and storing that data can be a monumental task without outside help, which is where Snowflake (NYSE: SNOW) thrives. With its data cloud offering, nearly any entity can find the tools it needs to produce actionable insights. The industry Snowflake operates in is an emerging and important one. But is it investible?
Snowflake's software has multiple verticals that ensure its customers have a complete solution. First, it allows businesses to store data effectively through multiple cloud providers, allowing customers to scale their needs quickly. It also provides the cybersecurity necessary to protect this data.
Source Fool.com