Capital One Software introduces new Slingshot features

New features offer enhanced visibility and optimization to empower data-driven business decisions

June 21, 2023, McLean, VA - Capital One Software today announced new features to its data management solution, Capital One Slingshot, that enable customers to maximize the value of their Snowflake investment. Launched in June of 2022 and Powered by Snowflake, Slingshot helps businesses optimize their Snowflake compute spend and reduce waste and inefficiencies. With these new features, Slingshot customers can better understand their biggest cost drivers and areas of potential optimization and more quickly improve performance and drive tangible business value.

“Winning in today’s market means making the most of your data. As more companies migrate to the Data Cloud, they need greater visibility into performance and ways to increase efficiency around managing their workloads,” said Ravi Raghu, President, Capital One Software, International, and Business Cards & Payments. “We’re excited to bring new Slingshot features to our customers that allow them to spend less time managing their data and more time managing their business.” 

“For many companies, efficiency means striking the right balance between cost and performance. Slingshot’s latest features not only help customers reduce spend, but also optimize their query performance,” said Desikan Madhavanur, Chief Technology and Product Officer, Capital One Software. “With enhanced visibility, warehouse recommendations and query guidance, Slingshot customers can empower their teams to spend wisely, forecast confidently and make smart decisions.” 

Enhanced visibility enables customers to go deeper into their Snowflake environment

Slingshot acts as an insights center of excellence by constantly monitoring customers’ workloads for inefficiencies and empowering teams to take corrective action. Slingshot’s enhanced dashboards provide users with actionable insights to monitor data at a granular level with greater predictability. With visibility into cost, performance and usage, customers can traverse different views and more easily find the most relevant information.  

• Snowflake data visibility & insights - Slingshot’s insights experience provides more transparency into an enterprise’s cost, performance and usage of Snowflake in the ways that matter most to an organization, including: Storage, Serverless Tasks, Query Timeout and Cloud Services. 
• Custom tagging - Slingshot’s robust filters and tagging capabilities help customers break down warehouse costs by custom categories they define to view Snowflake data through the lens of their business. Users can gain deeper insights, create reports and identify areas for improved efficiencies across their Snowflake environment.

"Through our partnership with Capital One Software, we've developed new ways to evaluate the wealth of higher education data we manage," said Minhong Cai, Principal Enterprise Architect at Anthology. "Slingshot gives us a granular look into our Snowflake usage and helps us optimize to meet the needs of our EdTech solutions."

Optimize Snowflake with data-driven schedule recommendations

Slingshot lets users set dynamic schedules, so customers only pay for the compute they need, when they need it. It actively analyzes customer data and notifies users when to right size their Snowflake compute with data-driven recommendations, enabling customers to continuously meet their cost and performance needs.

• Right sizing recommendations - Save time figuring out optimal size and cluster settings. Slingshot can optimize workloads by highlighting which warehouses are under-utilized, as well as offer recommendations for optimizing schedules for cost and performance. 

“Slingshot is helping us maximize our investment in Snowflake,” said Vishal Shah, Data Architect Manager, Pitney Bowes. “Slingshot sends us hour-by-hour warehouse schedule recommendations that can be applied with just a click of a button. Not only has this saved us time on the work that had previously been manual, we’ve also been able to re-invest 30% of our Snowflake credit consumption on warehouses being managed by Slingshot into new strategic workloads.”

Improve performance and reduce waste with Query Advisor

Slingshot now offers customers the ability to optimize queries by highlighting inefficiencies and providing remediations to adjust query text. Optimized performance enables improved access to data and provides customers opportunities to re-invest into new strategic workloads.

• Query Advisor - Use Slingshot to receive advice on how to improve SQL Queries. Query Advisor saves customers’ time and gives users the confidence that their new and existing queries are written to run efficiently. 

“Capital One Software has been a valuable partner for Snowflake customers who are looking to make the most of their investment,” said Rinesh Patel, Global Head of Financial Services, Snowflake. “Snowflake’s instant and near-infinite scalability paired with Capital One Slingshot’s recommendation features will help Snowflake users unlock more value from their data and gather deeper insights while optimizing the performance and efficiency of their workloads.”

For a demo of the latest Slingshot features, visit the Capital One Software at booth 1720 at Snowflake Summit, June 26-29, 2023, in Las Vegas. Be sure to check out the Snowflake Summit 2023 keynotes live or on-demand here and stay on top of the latest news and announcements from Snowflake on LinkedIn and Twitter.

About Capital One Software

Capital One Software, an enterprise B2B software business of Capital One, is dedicated to helping businesses accelerate their cloud and data management journeys at scale. Backed by 25 years of data innovation, Capital One Software is focused on providing solutions that help businesses overcome key cloud and data management challenges related to data publishing, data consumption, data governance, and infrastructure management. Building on Capital One’s pioneering adoption of modern cloud and data capabilities to create exceptional customer experiences, Capital One Software will help other companies fully leverage their data to unlock new value for customers and accelerate innovation across areas like AI and ML. Capital One Software is based in McLean, Virginia, at Capital One's headquarters. To learn more, go to: https://www.capitalone.com/software

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $313.4 billion in deposits and $434.2 billion in total assets as of March 31, 2022. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

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