Industry
Financial ServicesLocation
Sydney, AustraliaStory Highlights
Robust predictive insights: CommBank iQ’s data helps businesses better understand their customers, their shopping behavior and their needs.
High performance, low TCO: Snowflake’s ability to centralize data creates a democratized platform for CommBank iQ engineers, data scientists and customers—while the fully managed, easy-to-use platform keeps operating expenses low.
Elastic scalability to meet demand: CommBank iQ can easily satisfy business needs—without performance or concurrency issues—with Snowflake’s ability to dynamically scale up and out.
Video Transcript
CommBank iQ IQ is a joint venture between CommBank—which is Australia's largest bank by market cap—and Quantium, a world leading data science provider.
CommBank iQ’s mission is to help businesses understand that customer. If businesses and institutions can understand their customers better, they can increase the share of wallet and they can give the customer what they need. What we find is that although companies have a lot of data, they need help understanding it.
Two things that we are able to do that I think sets us apart. One is the richness of the data. So again, the amount of data we have means that our predictions for our customers are more accurate. Because of the insights that are provided, we're able to delve into more detail about who are your local customers, who are your ad hoc customers? If your customers are not shopping with you anymore, who are they shopping with?
So data to us in CommBank iQ underpins our very existence. We wouldn't be able to provide software products or bespoke consulting to clients if we didn't have data. To be able to help businesses understand their customers, we needed to have the ability to go through a lot of data.
One of the things that led us to a Snowflake solution was the ability to scale out and scale up. If you had lots of data, you can then scale up your data warehouse. If you had lots of people working at a certain thing which took a long time, you can scale out and give people more power and more performance. And you could also then when people are not working, scale that down. One of the things I would say is that the product is so solid, it just runs by itself.
And that's part of the beauty of the low OpEx of running Snowflake means that we didn't have a dedicated Snowflake team. After over a year of working with Snowflake, one of the biggest advantages I see in making that choice is democratizing the nature of data. My engineers are happy. They're able to spend their time how they want, and data scientists are happy to work on the platform because it performs well. Customers are also happy because we then produce good analytics and good products.
To summarize, working with Snowflake, even though it's a data cloud platform, CommBank iQ is also a data driven enterprise. At the end of the day, they're both people enterprises and I feel that the people we have in our organization, together with the people that are in Snowflake, makes for a great partnership and I think that's what will breed the success.
