Snowflake is a SaaS-based platform that can run on any major cloud provider, offering elastic scaling capabilities, easy integration with semi-structured and unstructured data, and automated management. It has a pay-per-use pricing model and requires minimal maintenance. On the other hand, Redshift is a PaaS solution running only on AWS, using an older architecture that stores data in single-unit compute/storage nodes, but offering flexibility through node types such as RA3 or DC2. Redshift's prices depend on the node used, with discounts for signing a contract. Both providers offer robust security and compliance features, but Snowflake has more dynamic scaling capabilities and is user-friendly, while Redshift requires infrastructure setup and hardware configuration. The choice between Snowflake and Redshift depends on business needs, including integration with AWS ecosystem, data workloads, query loads, and skill sets of users.