SAN MATEO, Calif., Dec. 5, 2017 /PRNewswire/ -- Snowflake Computing, the only data warehouse built for the cloud, today announced that Overstock.com, Inc. (NASDAQ: OSTK) chose Snowflake to augment and scale its data science initiatives. Snowflake enables Overstock, one of the world's premier home goods and furnishings retailers, to fast-track highly impactful data science projects to deliver on its brand promise of using technology to help customers find just what they want, for less. Overstock joins fellow online retailers Rue La La and Rent the Runway in leveraging Snowflake's modern, cloud-built data warehouse.
"A common meme in the data science world is that data scientists spend 80 percent of their time prepping data and 20 percent of their time building models. We wanted to flip that ratio," Overstock Vice President of Product and Analytics Joe Kambeitz said. "A key part of that initiative is investing in the right tools for our data scientists, and Snowflake is that solution when it comes to allowing data scientists to rapidly scale and deploy their workloads."
Overstock uses Snowflake's cloud-built data warehouse to easily load and integrate structured and semi-structured data in one place for quick and powerful analysis. Snowflake's cloning and time travel capabilities allow Overstock's data scientists to independently and simultaneously work on their own golden data set. The platform's elastic compute and linear scaling capabilities enable unlimited parallelism and unmatched performance, allowing Overstock's data scientists to move faster than ever. Packaging complex features for new data science models now occurs within hours or days, compared to the weeks it could take before partnering with Snowflake.
"Everything we do is about understanding our customers better in order to deliver the best possible shopping experience," Overstock Senior Vice President of Marketing JP Knab said. "Data has always been the frontier in e-commerce and we need to leverage data faster to deliver optimal customer experiences. With Snowflake, activities that required months of hardware and pipeline implementation now occur instantly by simply spinning up a new cluster."
Snowflake CEO Bob Muglia said: "E-commerce companies sit on massive troves of data. The successful, customer-centric businesses transform that data into meaningful and actionable insight to make informed business decisions. Overstock has stockpiled nearly 20 years of data, requiring a modern cloud data warehouse solution that enables its data science team to work quickly and uncover insights and trends across all of that data."
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Overstock.com, Inc. Common Shares (NASDAQ: OSTK) / Series A Preferred (Medici Ventures' t0 platform : OSTKP) / Series B Preferred (OTCQB: OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Worldstock.com is a store within Overstock dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.
About Snowflake Computing
Snowflake is the only data warehouse built for the cloud. Snowflake delivers the performance, concurrency and simplicity needed to store and analyze all data available to an organization in one location. Snowflake's technology combines the power of data warehousing, the flexibility of big data platforms, the elasticity of the cloud, and live data sharing at a fraction of the cost of traditional solutions. Snowflake: Your data, no limits. Find out more at snowflake.net.
SOURCE Snowflake Computing