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Modern enterprises are aggressively monetizing their products with subscription, consumption, or hybrid (mix of both) business models. The efforts help create a stable stream of revenue. However, none of it can be optimized for growth unless the company in question brings data into the picture to understand today’s dynamic market conditions.
Essentially, subscribers’ behaviors and preferences can change unexpectedly and end up affecting a smooth revenue stream. If an organization fails to capture this change and iterate accordingly in time, it ends up losing money.
Zuora Secure Data Share for Snowflake
To help with this, California-based Zuora, a company providing cloud-based subscription management capabilities to enterprises, has announced a new offering in partnership with Snowflake – Zuora Secure Data Share.
With this product, enterprises using Zuora’s platform will get the ability to pull their data from the subscription management platform into Snowflake data cloud and combine it with data from other source systems. This can then be used with business intelligence (BI) tools to generate meaningful metrics that could help not only improve ongoing customer relationships, but also revenue prospects.
“By partnering to offer Zuora Secure Data Share for Snowflake, companies will be able to access a near real-time data pipeline to help boost their success in the subscription economy, which would otherwise take multiple engineers and data scientists to build and maintain,” said Shakir Karim, vice president of platform product management at Zuora.
Not to mention, data teams are already overwhelmed with managing massive volumes of data, including routine changes in data models and report requests, and a task like that only makes their job difficult.
So, how does the new offering work?
Once connected, the data share solution will run an automated change-driven data stream to an enterprise’s Snowflake instance, syncing data in under 10 minutes on average. As the data comes in, the user will be able to join it with data from other systems, such as CRM, ERP, customer success and support. From there, they can plug in their preferred BI tools to examine the information in new ways and get a 360-degree view of the customer journey.
This could help ultimately help the company identify positive trends or potential red flags that could impact the business. For instance, an organization could use the solution to identify macro trends and better predict subscribers who are at risk of churn or ready to upgrade to a higher tier. The information could enable the company to send appropriate nudges and make sure that the customer stays or upgrades (according to the case) to a higher tier.
While multiple enterprises have been using this solution as part of an early access offer, Zuora has confirmed that the product is now generally available for all its customers who have a Snowflake instance. For reference, Zuora claims to work with over 1000 enterprises, including Caterpillar, Schneider Electric, Ford, GoPro, Siemens, Zoom and General Motors.
“Zuora Secure Data Share for Snowflake will help companies derive key business insights from numerous data sources faster, giving data engineers valuable time back to optimize their learnings,” Kieran Kennedy, head of Snowflake Marketplace, said. “Snowflake’s partnership with Zuora is an example of how we continue to seek ways to mobilize the world’s data by helping companies build and improve customer-centric business model.”