BAMA Creates a Fresh and Healthy Future with Snowflake

My name is Hans Martin Espegren. I'm head of data science in BAMA. BAMA is the biggest fruits and vegetables company in the Nordics, and we supply fresh fruits and vegetables to all of Norway. We see that it's a super complex value chain, and we need them to bring in data science in order to help us take these decisions smarter.

We went with Snowflake and started using Snowflake in order to get our data into the cloud and make data more available. Now we have everything in one place like data governance, data science, we can do machine learning, orchestration, model hosting, training. Everything can be done now inside Snowflake. So, yeah, that's a huge benefit for us.

Well, at BAMA, we're buying all our products from abroad, and we have to pay for our products in Euros, dollars, British pounds, but we get paid in Norwegian Kroners because we have all our customers in Norway. So we are exposed to currency exchange rate risk, and that's why we are now using machine learning to predict the need for different currencies at different points in time. So our finance department is now buying their currency based on machine learning predictions instead of reactively buying currency after the purchase has been made. With our due date prediction model, we are actually enhancing financial stability and forecasting accuracy for our finance department, which is very important.

We have reduced cash flow-related losses by 35%, or estimated value of up to $700,000 for our solution. For me, it's super important that we're able to deliver good value to the business and also have short time-to-market with our machine learning solutions. With Snowpark ML and Snowflake, we're able to quickly deploy new solutions and develop end-to-end architecture for our machine learning models. So now we can set the correct pricing and ideally as low pricing as possible for our customers in order to create a fresh and healthier future.