After spending a few weeks on the road meeting with customers, I have had some time to reflect on the trends we are observing across the industry and how things have been shifting. Around a year ago, I wrote a blog post outlining the various segments of cloud adoption among enterprises of different sizes and shapes. Looking back on it today, there are several key changes that have occurred which I would like to address.
Firstly, we are collaborating with many small and medium-sized businesses (SMBs) that are not as committed to relying solely on Software as a Service (SaaS) solutions as was previously predicted. In fact, these fast-growing tech companies, built on the cloud, now recognize the benefits of maintaining ownership of their data rather than continuously paying for a SaaS-based solution. They are completely comfortable with deploying and managing infrastructure and software in their own cloud account, and value the cost transparency that comes with doing so. Given the current macroeconomic environment, cost management is critical, and they require a data warehouse that not only fulfills their present needs but also scales in terms of cost and performance.
It is important to note that these SMBs are not the only companies focused on cost optimization. All our customers, including some of the world's largest enterprises and federal organizations, are attempting to manage their cloud expenses. Increasingly, companies are becoming frustrated with the unpredictability of costs and the lack of transparency from major providers in retrospect. This results in lower unit economics and higher COGS. As an industry, we have a responsibility to our customers to ensure we assist them in reducing unnecessary expenses.
At Yellowbrick, we are fully committed to transparent pricing and developing software that proactively minimizes our customers' use of underlying cloud infrastructure. You can see below how our customers have benefited from this, resulting in Gartner recently naming Yellowbrick as a Strong Performer in the “2023 Gartner® Peer Insights™ Voice of the Customer: Cloud Database Management Systems” report. By the way, you can now experience Yellowbrick for yourself in our Sandbox environment. We welcome your feedback.
I look forward to sharing more updates in future newsletters, and please do not hesitate to contact me with any comments, questions, or simply to chat.