A leading investment management firm and recognized leader in structured credit, including asset-backed securities (ABS), mortgage-backed securities (MBS), and other fixed-income sectors, sought RiskSpan’s help transitioning key data processing functions from the data management platform 1010data to Snowflake.

The ability to share data with partners using the same system in which the analytics are performed made the combination of RiskSpan and Snowflake especially attractive. The shift provided significant operational and financial benefits to the client, marking another successful milestone in RiskSpan’s history of helping clients optimize their data management.

Converting Key Functionalities from 1010data to Snowflake

The company had been relying on 1010data for several critical timeseries-based calculations. However, the limitations of the platform—both in terms of speed and cost—prompted them to seek a more modern solution. RiskSpan worked closely with them to replicate and enhance key functionalities using Snowflake. Converted functionalities included:

  1. Timeseries-Based Calculations: We re-engineered these to operate efficiently within Snowflake’s cloud-native architecture, maintaining accuracy while enhancing processing speeds.
  2. fill_nearest: This function retrieves the nearest non-N/A value within a group. It was implemented seamlessly using Snowflake’s window functions, preserving data integrity while boosting performance.
  3. rolling_sum: Snowflake’s SQL capabilities were leveraged to implement the moving sum of valid (non-N/A) values within a window. This provided the company with more responsive and scalable time-series analysis capabilities.
  4. cumulative_run_length: The cumulative run length within a group was translated into Snowflake’s environment using efficient SQL queries, making the entire process faster and more robust.

Integration Capabilities

In addition to replicating 1010data’s core functionalities, the company sought to expand its data capabilities by integrating additional datasets such as Market Data and Home Price Indices (HPI). We showed them how to incorporate and analyze these datasets within Snowflake’s environment, further enhancing their decision-making capabilities.

This cross-functional integration was pivotal in showcasing Snowflake’s ability to streamline complex data workflows. By integrating third-party data directly into their ecosystem, our client can now generate more insightful reports and conduct deeper analysis across multiple datasets without leaving the Snowflake platform.

The Benefits of Transitioning to Snowflake

Our client experienced several immediate and impactful benefits by transitioning from 1010data to Snowflake were immediate and impactful. These included:

  • Complete Replacement of 1010data: With all critical functionalities successfully converted, the company now can fully discontinue their reliance on 1010data. This eliminates the need for maintaining multiple platforms and simplifies their technology stack.
  • Significant Cost Savings: Discontinuing 1010data relieved our client of the high costs associated with the platform’s licensing and maintenance fees. Snowflake’s cost-efficient pricing model has already resulted in substantial savings for the company.
  • Improved Processing Speeds: One of the most noticeable changes has been the drastic improvement in the company’s processing times. Snowflake’s optimized cloud infrastructure provides faster data processing and querying capabilities, significantly reducing time-to-insight.
  • Access to Full Snowflake Feature Set: Moving to Snowflake has enabled the company to take advantage of features such as data sharing, enhanced security, and elasticity. Snowflake’s built-in scalability ensures our client’s data infrastructure will continue to grow effortlessly as its data needs expand.
  • Speed and Cost Efficiency: The company has expressed particular satisfaction with both the speed and cost-efficiency of the Snowflake platform. The reduction in data processing time and cost per query has positively impacted its business operations.

Partnering with RiskSpan not only enabled the company to replace 1010data with a more modern and efficient platform, but it has also empowered them to take advantage of Snowflake’s newest, advanced features, including AI.

Contact us to learn how RiskSpan can help you unlock the full potential of your data by guiding you through complex transitions and helping you implement scalable, secure, and cost-effective solutions.