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The main challenges in controlling cloud costs were found to be cloud usage visibility, complex cloud pricing, and complex multi-cloud environments. The overall finding of the survey was that respondents believed they could have avoided a significant portion of their cloud costs through operational and strategic improvements.
What are some ways we can reduce cloud costs and practice cloud optimisation?
Depending on which tool you select, cost monitoring tools can provide an array of capabilities to assist you in managing your cloud costs. This includes setting up spending costs for cost optimisation, identifying cost spikes, forecasting your cloud expenses, analysing your past expenditures, providing recommendations on where to cut costs, alerting you if you go over budget, and automatically limiting your resources when needed.
Tracking the highs and lows of your computing demands can be done through heat maps, alerting you to put in place start and stop times for reducing cloud costs. Integrating automation into heat maps can allow scheduling of start and stop for instances which permits cloud cost optimisation.
To minimise expenses for unused capacity, IT departments must juggle between not overspending on unnecessary resources and having enough capacity accessible in the case of unexpected load fluctuations and traffic spikes. Because it is simple to oversize, one strategy to consider is right sizing your computing services. This guarantees that the services are at the most efficient size, giving you cost savings and helping with cloud optimisation.
Using management tools and infrastructure and application monitoring can help with cloud cost visibility and minimising the risk of cloud sprawl. Strategies include proactive monitoring of cloud expenditures and contracts to remove unused resources, shutting down past workloads with automated provisioning, and setting up company policies to determine when and how to decommission unnecessary resources.
Autoscaling features are included in cloud provider services such as automatic monitoring and adjusting the scale of an application in response to demands. Autoscaling allows organisations to simultaneously prioritise performance, cost, and availability. Parameters can be set up to suit the unique cost needs of your organisation such as configuring settings to limit low-priority workloads.
CDM offers a range of cloud services and solutions including cloud cost optimisation and management. With operational excellence for Microsoft Azure, Microsoft365 and AWS, we can provide you expertise and guidance on how to save on your cloud consumption bills and optimising your cloud environment.
Get the details on our cloud solutions here
Sources:
Cloud Computing – https://www.cloudcomputing-news.net/news/2022/aug/18/almost-half-of-businesses-struggle-to-control-cloud-costs/
TechTarget – https://www.techtarget.com/searchcloudcomputing/feature/5-ways-to-reduce-cloud-costs
Cloud Checkr – https://cloudcheckr.com/cloud-cost-management/cloud-cost-management-cost-optimization-best-practices-for-reducing-cloud-bills/
