Collaborate on confident data without actually sharing the data

The value of data collaboration is enormous. A recent report from McKinsey & Company and the World Economic Forum estimates that connecting data across organizations unlocks $3 trillion in annual value.

Across industries, companies recognise the value of centralising and connecting data across their business units, throughout their ecosystem, and from third parties.?

eg:?

# consumption data for leased equipment (EaaS)

# clickstream c360 data for next best actions

# external market data / alternative data for building risk models?

--> Snowflake makes this possible via Data Sharing - simply "mount" your business partners data without ETL via direct share or use public marketplace data sets. ICYMI: Beyond data sets you can share also business logic (functions / models) or turn-key apps via (public / internal) Marketplace!

But in some situations, parties may need to collaborate on confident data without actually sharing the data ("sharing without showing" - GDPR). In the 2021' "Secure Data Sharing with Data Clean Rooms in the Data Cloud" webinar, Jennifer Belissent — Principal Data Strategist at Snowflake — presents the Data Clean Room concept with the famous Yao’s Millionaires’ problem: How can two millionaires (Alice and Bob) determine whose net worth is higher without telling each other how much money they each have.

Watch recorded webinar here https://resources.snowflake.com/webinars-thought-leadership/secure-data-sharing-with-data-clean-rooms-in-the-data-cloud

If you want to have a deeper look how to solve Yao’s Millionaires’ problem within Snowflake:

https://cristian-70480.medium.com/snowflake-data-clean-rooms-the-problem-with-yaos-millionaires-problem-442ac1c22653

Snowflake’s Data Cloud supports these data clean rooms that allow companies to explore their data’s characteristics without revealing the underlying data.