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Snowflake Finance VP Says Big Companies Migrate at a Glacial Pace
Snowflake's growth among large enterprise customers faces a significant bottleneck tied to the sluggish replacement cycles of existing on-premises data warehouse systems, according to finance vice president Jimmy Sexton. Speaking at a Jefferies conference, Sexton explained that while the cloud data ...
Snowflake's growth among large enterprise customers faces a significant bottleneck tied to the sluggish replacement cycles of existing on-premises data warehouse systems, according to finance vice president Jimmy Sexton. Speaking at a Jefferies conference, Sexton explained that while the cloud data company secured two deals worth more than $100 million each in the financial services sector during its latest quarter, such migrations unfold over multiple years as "cumbersome projects."
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