Knoema, a New York-based data aggregation and management platform, recently announced a partnership with Alternative Data Analytics (ADA) to launch Express Link, a technology solution and advisory service to help data suppliers more easily commercialize their data assets through the Snowflake Data Marketplace.
New Product Launch
The partnership of Knoema and ADA in creating the new Express Link service enables data owners to more easily monetize their data, by helping providers structure and enrich their data, add potential metadata, develop a data packaging and pricing strategy, and perform any other functions needed to productize and sell it. Ultimately, these data products can be marketed through the Snowflake Data Marketplace and distributed to clients by leveraging Snowflake’s data sharing technology.
One of the key drivers of launching the Express Link service was to provide the expertise and support that corporations need to commercialize the data assets their firms create as a byproduct of conducting their core businesses. While this type of “exhaust data” can be extremely valuable to asset managers or other business users, the process of transforming this exhaust into useable data that can produce valuable insight is not straightforward – particularly for firms that don’t have internal data management expertise.
Charles Poliacof, CEO of Knoema explains the rationale for this new service, saying “Our revolutionary Express Link managed service allows data owners to take data distribution to the next level by eliminating data transfer issues, improving client service and data product launches, and enhancing data monitoring and metadata enrichment.”
“Our partnership with Knoema creates a best-in-class solution for data owners to quickly and efficiently leverage their data assets to generate new revenue streams,” said Daniel Goldberg, Founder of Alternative Data Analytics. “The combination of Knoema’s industry-leading data technology solutions and Alternative Data Analytics’ premier productization advisory services, solves one of the most challenging and resource-intensive processes for data owners to monetize their assets.”
Last December, Snowflake Ventures announced an investment in Knoema to help accelerate Knoema’s growth as a data partner, and make thousands of data sets on a variety of topics such as economics, health, environment, education, agriculture, transportation available to Snowflake customers. Snowflake Ventures typically invests between $1 and $5 million in growth-stage companies that can enhance its cloud offering.
Given this investment, it makes sense that Knoema and ADA chose to launch Express Link on Snowflake. The availability of Express Link on Snowflake should be a benefit to both aspiring data providers and the Snowflake Data Marketplace, as this new service will help data providers to swiftly access the marketplace, streamline the creation of data products, and ultimately deliver data that drives valuable insights for Snowflake’s customers.
Of course, Knoema and ADA could eventually launch the Express Link service on other cloud-based data marketplaces like Google’s Datashare or Amazon’s AWS Data Exchange. However, whether this takes place will all depend on if these other data marketplaces become attractive platforms for Express Link and for the corporate owners of exhaust data that Knoema and ADA are trying to serve.