By Goavega StaffOn 06 Feb 2024

Cloud optimizing cost should be a top priority for every modern IT organization. Uncontrolled cloud costs can derail budgets and offset the agility benefits of the cloud. The good news is that with the right cloud optimizing cost strategies, you can rein in spending while accelerating innovation.

In this post, we’ll explore key tips for optimizing your cloud costs to drive speed, innovation and improved profitability.

Choosing the Right Tier to Optimize Cloud Cost

Carefully choose the optimal cloud service tier based on workload needs. For non-critical apps, serverless and FaaS offerings significantly optimize cloud cost. Auto-scaling and spot instances prevent overpaying for excess capacity.

Monitoring Usage and Spend to Optimize

Leverage built-in monitoring tools to analyze spending across services. Identifying waste streams allows rightsizing and helps forecast budgets. Monitoring usage and cost is essential for cloud optimizing cost.

Tagging Resources to Allocate Cloud Cost

Use tags to allocate cloud cost by department, project or application. This provides transparency into business unit spending. Now you can have informed discussions on optimizing their cloud costs.

Continuous Rightsizing to Optimize Cloud Cost

Periodically review utilization and rightsize resources to avoid over provisioning. Auto-scaling policies dynamically resize to match demand. Deleting unused resources promptly also optimizes cloud cost.

Leverage Pricing Models to Optimize

Choose and blend pricing models like spot, reserved and on-demand to optimize cloud cost for different workloads. Seek out discounts based on long-term commitments. Avoid paying for excess capacity.

Automating Policies to Control Cloud Cost

Automate tasks like auto scaling, resource scheduling and cost alerts. Cloud management platforms provide governance over cloud cost. Automation both optimizes cloud cost and frees up admins.

With the right cloud optimizing cost strategies, companies can rein in cloud bills while accelerating agility and innovation. Savvy IT teams make cloud optimizing cost a continuous process. They gain a real competitive edge from a lean and efficient cloud.

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