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We’ve compiled 10+ AWS Cost Management best practices — and the lowdown on an advanced tactic that can help you save even more.
While there are many advantages to using Amazon Web Services (AWS), cost management can be complicated because so many factors impact your AWS bill. Account setup, savings plans, and a number of other factors can all affect your AWS charges and usage.
In this article, we’ll introduce 10 AWS cost management best practices that promote optimization, and how you can go beyond AWS cost management by using an advanced cloud cost intelligence tool.
If you’d like to learn more, you can read more about each of these topics in AWS Cost Optimization: A Guide To Managing Your AWS Bill.
Cost management strategies essentially fall into two broad categories: putting the right configurations in place for managing your AWS account, and reducing wasteful spend by efficiently managing your cloud assets.
The best practices for both categories of cost management strategies are outlined in the following sections.
The first step in AWS cost management is to set up your account in a way that makes it easy to track and manage costs. These are the best practices to follow for setting up your AWS account:
In computing terms, waste is a broad category. It can mean anything from “zombie” unused infrastructure or resources to choosing the right savings plan. These are the AWS cost management best practices you should focus on to minimize waste:
Once you’ve taken steps to reduce waste — you’re off to a great start. But that’s only one piece of cloud cost optimization. The next step is to start to understand the cost of your products — and how they connect with key business metrics — so you can be more strategic in how you take advantage of cloud-native architecture.
This is called cloud cost intelligence — and it’s the next step to gain a strategic cost advantage for cloud companies.
With a cloud cost intelligence tool like CloudZero, zeroing in on the specific issues driving your AWS costs is simple. CloudZero provides detailed analysis of your cost data sorted by function, user, time, and other metrics, updated in real time, to make waste easy to spot.
CloudZero organizes costs and correlates them to the engineering activity that generated them, giving you the context needed to make cost management decisions. Cost anomalies can be detected quickly and addressed before costs accumulate.
In addition, CloudZero makes costs associated with engineering decisions transparent during the design process. Engineers can build cost-effectiveness into their applications, preventing waste from the beginning.
CloudZero uses machine learning to classify costs and associate them with the processes that generate them, and includes these features to give you maximum control over your AWS costs:
CloudZero is the only cloud cost intelligence solution that automatically correlates resource and billing data from across your AWS account to group costs and surface insights.
Instead of spending time identifying the source of cost anomalies, you can concentrate on addressing them.
CloudZero is the only solution that enables you to allocate 100% of your spend in hours — so you can align everyone around cost dimensions that matter to your business.