For ingesting a large volume of CSV data into Snowflake using Snowpipe, especially for a substantial amount like 10 TB, the on error = SKIP_FILE option in the COPY INTO command can be highly effective. This approach allows Snowpipe to skip over files that cause errors during the ingestion process, thereby not halting or significantly slowing down the overall data load. It helps in maintaining performance and cost-effectiveness by avoiding the reprocessing of problematic files and continuing with the ingestion of other data.