Prior to this release, SELECT gave customers the ability to receive Spend Digests on a scheduled basis. A limitation of these is that if Snowflake usage spikes, you won't find out until your next scheduled digest - which could be weeks away for some users.
To help notify you immediately if your usage has spiked, we've added a new "Daily Spend Threshold Alert". In Settings -> Monitors, you can now go in and specify a daily spend threshold. If your daily usage exceeds this amount, you will be alerted. The UI gives you immediate feedback on how often you would have been alerted historical based on the amount you set.
We recommend all users set up a daily spend threshold alert, and then enable the weekly or monthly spend digest in conjunction to catch other changes in your usage patterns.
Learn more in our Monitors documentation.