Compute is a generic term used for when costs are incurred for use of a CPU or processor you have “rented” via your Cloud service provider. Different providers measure “Compute Cost” in different ways (by the hour, by the minute, etc). Part of our OxFlow service is a way to centralize “Compute” cost on our low-cost servers and avoid your providers’ more expensive “Compute” fees.
Please check out this Snowflake Article for some examples of how this cost is metricized by providers.