Cloud Cost Management: Optimization Strategies

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Cloud cost management is the organizational planning that allows an enterprise to understand and manage the costs and needs associated with its cloud technology. In particular, this means finding cost-effective ways to maximize cloud usage and efficiency. AWS has a set of services, tools and resources to help the customers with cost management and optimization. This course will highlight the solutions and best practices to get started with optimizing AWS cost and capacity.

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For effective cost control in cloud computing services, it is quite important to analyze and manage cloud cost and leverage cloud cost management tools to help discover the cause(s) of these inefficiencies. Unplanned cloud costs are frequently the result of a lack of visibility about the current consumption patterns and past trends, nonstandard deployments that come from unclear or absent development processes, poor organization, or the absence of automated deployment and configuration tools. By contrast with on-premise infrastructure, which is financed by fixed upfront investments, cloud consumption is an everyday operational expense. This requires a huge shift in your approach to operational management, where optimizing cloud cost is as important as optimizing performance.

A well-defined cost optimization framework helps establish a cloud budget, design standards, and best practices to follow that budget, and employ cloud solutions that support the organization’s financial goals.

  • Estimate costs before you create the services
  • Monitor costs with budgets, alerts, and cost analysis
  • Set up budgets and alerts for actual and forecasted thresholds
  • Review the charges on your invoice
  • Extract billing and cost data using the consumption API
  • Proactively configuring your account to avoid surprises
  • Tips for reducing costs
  • Use advanced methods for cost control and optimization
  • Plan for effective cloud cost management by setting up your teams, and tools, and applying financial governance best practices.
Cloud Cost Management: Optimization Strategies

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Silas Bamigbola

Certified Computer Engineer & Author, 'Lost Boys'. I believe in the influence of right information. Join me on Twitter.

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