A materialized view is a feature that provides the capability to define an alternate cluster key for a
table with an existing cluster key. A materialized view is a pre-computed result set that is stored in
Snowflake and can be queried like a regular table. A materialized view can have a different cluster
key than the base table, which can improve the performance and efficiency of queries on the
materialized view. A materialized view can also support aggregations, joins, and filters on the base
table data. A materialized view is automatically refreshed when the underlying data in the base table
changes, as long as the AUTO_REFRESH parameter is set to true1.
Reference:
Materialized Views | Snowflake Documentation