Ever wondered why costs for cloud computing are increasing over time? Cloud optimization or computing offers benefits like automation, intelligent alerting, and smart resource management, resulting in a shift in spending on traditional IT solutions. These funds are now being reallocated to the cloud, increasing “cloud-first” solutions.
With the number of cloud services increasing, having a team of professional DevOps that follows DevOps Implementation services best practices can benefit businesses, resulting in reduced software development, deployment, and maintenance costs. In this post, we’ve listed some key DevOps practices that can help you eliminate cloud costs and maximize savings.
1. Review Your Cloud Bill
Analyzing and reviewing your cloud account and total price is the first step toward successful cloud cost control. Understanding your cloud bills will give you an overview of billing details, making it easier to make healthy spending decisions that benefit your business.
2. Monitor Unexpected Costs
Ensuring your team is aware of the goals and spending limits for each project will help you stay within the budget and keep expenses under control. Monitoring invested costs and creating a monthly budget to track these investments helps plan your cloud computing approach. Your budget may change according to the needs of your company, helping you monitor and avoid unexpected costs.
3. Utilize Reserve & Spot Instances
Achieve pricing discounts from the cloud provider when buying reserved instances (RIs) for the selected instant type. While most of RIs offer up to 75% discount, Spot instances can handle workloads without interruptions better.
4. Automate Scaling
Maintain consistent work at the lowest cost by implementing automatic scaling to monitor your applications and modify your server capacity. To reduce cloud costs, it is important to monitor the number of active servers to automatically activate the necessary instances. It helps in saving time and money during traffic increases.
5. Optimize Storage Costs
Various storage solutions are required for various data types and business requirements. Two popular options with different advantages are block storage and object storage. Block storage provides high performance for structured and transactional data. Object storage is affordable and can cater to storing unstructured data.
6. Track Data Transfer Costs
Cloud vendors often charge an expensive price to migrate data across regions, availability zones, or different cloud providers. By minimizing excessive data transfers and keeping the data within the same region, companies can eliminate their cloud expenses. Also, monitoring transfer costs and setting up alerts when usage exceeds budget limits can help optimize cloud costs.
7. Leveraging Real-Time Analytics
It is important to adopt cost-saving habits in the initial stages of your DevOps journey that can positively impact your overall business. Monitor real-time analytics to identify and solve cost irregularities. Utilize valuable insights through real-time analytics regarding CPU utilization, network traffic, memory utilization, storage usage, errors, and more.
8. Third-Party Cost Management Tools
Monitor pricing patterns by utilizing third-party management tools to make wise purchases. These management tools help businesses analyze, optimize, and automate cost-saving strategies and gain better control over cloud expenses, prevent increased prices, and maximize cost efficiency.
9. Eliminate Unused Resources
Identifying and eliminating unused resources is the most effective way to reduce costs. Removing them will help companies to effectively distribute resources and prevent unnecessary spending, and reduce cloud costs.
Choosing the Best Cloud Management Solution for Your Business
Selecting the right cloud management solution can be challenging, but it is the most crucial element for optimizing costs, improving security, and ensuring all operations are working efficiently. Several factors should be considered before choosing your cloud management solution:
●
Your Business Needs: It is important to
define your business needs, requirements, and goals before finding the best
cloud management solution. Prioritizing areas such as automation, compliance,
and cost management can give you a fair idea if these requirements operate in a
public, hybrid, or multi-cloud environment.
●
Key Features: An advanced cloud
management platform will offer essential features that help optimize your cloud
operations. With tools that provide insights, it is easier for companies to
monitor expenses and reduce cloud costs.
●
Compare Multiple
Platforms:
It’s important to compare the features, strengths, and limitations of leading
solutions when choosing a cloud management platform for your business. Compare
cost, multi-cloud support, and automation to choose the best platform that
aligns with your cloud strategy.
● Pricing & Support: Choosing a cloud management solution requires a comparison and analysis of every aspect, with cost being a key factor. A platform that offers long-term value at affordable costs, improving efficiency and optimizing resource utilization, should be considered the optimal choice.
The Bottom Line
Cloud cost optimization is an ongoing process, and it’s a responsibility of the whole company. Leveraging the right tools will ensure the best solutions that work towards achieving your business goals. Maximize your cloud investment by carefully evaluating your business needs, essential features, platform comparisons, and pricing. You can select a cloud management solution that enhances efficiency, maximizes value, and establishes control over your finances.