Data classification in Snowflake is a feature that allows organizations to identify and categorize data stored in tables or columns based on its sensitivity level or content type. This feature can be used to find sensitive data within the database by classifying data as confidential, personal, public, etc., making it easier to apply appropriate security measures, such as masking policies or row-level security, to protect sensitive information.
References:
* Snowflake Documentation: Data Classification

Reference: https://docs.snowflake.com/en/user-guide/tables-storage-considerations.html

The factors that impact storage costs in Snowflake include the account type (Capacity or On Demand) and the cloud region used by the account. These factors determine the rate at which storage is billed, with different regions potentially having different rates3.