Public cloud users continue to get stung by unexpected costs due to the challenges faced when working with or moving workloads into the cloud. When organizations see this surge in their costs, it typically requires the process of cloud cost optimization to tackle the problem.
Cloud cost optimization is the task of minimizing cloud spending by enforcing best practices and appropriate cost-efficient resources. Optimizing cloud costs allows businesses to meet their needs while getting the most value from cloud investments.
Throughout this blog, we will uncover the different strategies that can be implemented to maximize cloud savings and how these can be applied to your business.
Cloud cost optimization strategies
1. Eliminate underutilized resources
Underutilized resources are a significant concern when it comes to cloud spending. By eliminating these idle resources, users can expect to see a reduction on their overall spend. The best way to reduce these unwanted costs is by eliminating those idle resources. Cloud computing features such as auto-scaling and load balancing, will help scale your resources according to your needs.
2. Compare different cloud providers and pricing options
Cloud service providers are organizations that offer cloud computing services. There are numerous cloud providers available, each with their own pricing model. By comparing different cloud providers and reviewing their pricing options, a business can find the best value for their investment. This process of reviewing and comparing providers can help optimize overall cloud spending and maximize savings.
3. Optimizing cloud costs at each stage of the software development life cycle
An organization can optimize their entire cloud spend by carefully planning and budgeting for cloud costs at different stages of the software development life cycle. Implementing software development best practices such as DevOps and GitOps can also help to build a cost-effective cloud application architecture. Regularly monitoring of processed data from logs with proper monitoring design and using good observability practices can help identify and address unpredictable costs, enabling the organization to adjust their operational expenditures as needed.
4. Implement a cloud cost management system
Implementing a cloud cost management system is an effective way to optimize cloud spending. This system should involve regular monitoring of cloud costs and ongoing review of the cloud spending strategy to ensure improved security and scalability. Utilizing platforms such as Grafana and Finout to optimize cloud resources can also lead to significant reduction in cloud expenditure.
How Civo can help optimize your cloud costs
Civo offers competitive pricing for products and services, often costing less than 75% of what other hyperscale cloud providers charge. Additionally, Civo includes a generous data transfer allowance and free DDoS protection to help keep your cloud costs optimized and predictable.