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A successful approach to AWS cost optimization starts by gaining a thorough view of the existing costs, finding potential for cost optimization, and incorporating modifications. AWS and other providers of software have resources to help clients understand how they are spending.
In this article, I'll provide a comprehensive guide on how to understand your AWS costs and needs, as a part of my AWS cost optimization series.
How well does your company handle cloud costs? While you could have spending statistics at your disposal that will reassure you that the production team is under its monthly budget or that your monthly recurring income is on an upward trajectory, this data does not actually mean that you are handling investments in the cloud as well as you should be.
RightScale and Flexera teamed up to research the cloud spending habits of companies. What they found was that 35% or even higher of cloud spend is wasted. In times when nothing is certain and when a pandemic has taken over the world, companies are very careful with their spending. Saving the resources you normally waste on cloud spend could open new possibilities for product improvement and growth.
This article is the first of my series on AWS cost optimization. In this series, I’ll introduce the challenges with AWS costs. I’ll also offer actionable recommendations on how to solve them and perform efficient AWS cost optimization.
Most businesses spend much more on processing and storage than they need. This is often the case with operating expenses for excess capacity to meet peak demand in their on-site data centers.