7 Cloud Cost Optimization Best Practices

7 Cloud Cost Optimization Best Practices

ExecutiveChronicles.com | 7 Cloud Cost Optimization Best Practices | Are you about to give cloud computing a try?

If so, cloud cost optimization is one of the key areas to pay close attention to. Interestingly, businesses are struggling with the soaring cloud computing costs. The increase in expenses is because of the transition to remote work.

Thus, optimizing cloud expenses becomes essential. Continue reading below for seven cloud cost optimization best practices to follow today.

  1. Look for Unused Resources

One of the simplest cloud cost optimization habits to develop is searching for unused resources. When IT developers and administrators do tasks on temporary servers, they may forget to turn it off after completing the process.

In turn, they leave unused or unattached resources. It translates into untoward charges in their Amazon Web Services (AWS) or Azure bills. The latter charges for resources you purchased in the past but no longer use.

  1. Heat Maps Count

Maximize your heat map to determine your cloud computing demands. It’s a visual representation of how your business uses the cloud. Use the data to build start and stop times and minimize cloud costs.

  1. Invest in Efficient Cost Management Tools

Create a budget for cloud cost management tools. Apart from identifying unutilized resources, these tools can create budgeting alerts. Moreover, they can break down your costs to perform detailed reviews.

Some even allow integrations for improved dashboards and reporting. Look into application-driven cloud optimization. It uses an AI-powered engine to improve application performance.

  1. Address Your Cost Anomalies

The moment you identify a cost anomaly, address it quickly. Companies can add billions in their profits through cloud computing. However, cost anomalies can affect your profit potential.

Watch out for unusual spikes in your cloud spending. Thankfully, certain tools make automatic tracking possible.

  1. Proactively Rightsize Compute Resources

During provisioning, automate your infrastructure rightsizing. Automate your management processes by incorporating them into your continuous integration and continuous deployment (CI/CD) pipeline. In turn, you can reduce your errors and avoid manual tasks in your cloud management processes.

  1. Choose Between Single or Multi-Cloud

Does your company need multiple-cloud solutions? Though bigger businesses use many platforms, it may not be wise for smaller ones to take this path. In this case, you’ll need a single cloud solution.

Using AWS, the Google Cloud Platform, and Azure translates to losing volume discounts when subscribing to a single cloud vendor.

  1. Develop a Culture of Awareness

Developing a culture of cost awareness in your company means getting every department on board. Ensure they’re following the best practices in cloud cost optimization.

Focus on your cloud reporting levels. It fosters a sense of transparency in your cloud-related spending. Also, reward your employees who diligently rightsize.

Go Beyond Cloud Cost Optimization

Through effective cloud cost optimization, you can streamline your spending and increase your profits. You can also use the savings to boost the other areas of your business.

However, learning how to save money on cloud costs is not the only way to save resources. Look for different ways of lowering your operational expenses.

Do you need more helpful guides? Read our other articles and expand your knowledge today.