As these numbers show the demand for cloud operation, adhering to these requirements also means a heavy cloud bill.
Cloud Cost Optimization
In order to grow your business, you need to know which cost-effective cloud resources need to be allocated to which department. Cloud cost optimization ensures just that. With the right resources working on different workloads and applications, you are able to balance costs, performance, and security requirements that ensure that your cloud investments are working appropriately and optimally.
Each workload in a cloud deployment is unique, with evolving requirements over time. To optimize cloud costs, it’s important to establish performance benchmarks for each workload, utilizing domain expertise and real-time operational data. The goal of optimization is to lower costs while maintaining the required performance levels.
So, what best practices can we use to bring down the cost?
Top 5 Cloud Cost Optimization Best Practices
1. Assess and Track Cloud Usage
Cloud cost assessment is the cornerstone of successful cost management strategies. Start by carefully tracking and analyzing your cloud expenses. When you have enough insights into service usage, identify key cost drivers, and observe user behavior trends. This essential step enables you to uncover opportunities for cost optimization, such as unused resources or services.
