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Cost optimisation strategies during and after cloud migration
Without a robust cost optimisation strategy, businesses can find themselves facing unexpected expenses. It’s now time to explore effective cost optimisation strategies during and after cloud migration, as well as delve into some of the most reliable cost management tools available.
Cost optimisation strategies
While cloud migration offers scalability, flexibility, and improved collaboration, it also comes with its own set of costs. Here are some strategies to optimise these costs:
- Right-sizing services: Not every workload requires the highest performing (and most expensive) cloud services. Assess your workloads and match them with the appropriate cloud resources. This process, known as right-sizing, ensures you’re not overpaying for resources you don’t need.
- Leverage auto-scaling: One of the benefits of cloud computing is its ability to scale resources based on demand. By leveraging auto-scaling features, you can automatically adjust resources as needed, ensuring you’re only paying for what you use.
- Use reserved instances or savings plans: Most cloud providers offer discount pricing models for clients who commit to a certain level of usage. By committing to a reserved instance or savings plan, you can achieve significant cost savings.
- Optimise data transfer costs: Data transfer can be a hidden cost in cloud computing. To minimise these costs, consider strategies like caching, using content delivery networks (CDNs), and compressing data.
- Implement strong governance: Without strong governance, cloud costs can quickly spiral out of control. Establish clear policies and procedures for cloud usage, including who can provision resources and how those resources should be managed.
After migration, cost optimisation remains critical. Here are some post-migration strategies:
- Continuous monitoring and optimisation: Cloud costs should be monitored continuously. Regular reviews can help identify unused or underutilised resources that can be decommissioned to save costs.
- Leverage cloud-native services: Whenever possible, leverage cloud-native services. These are typically more cost-effective and better integrated with other services on the same platform.
- Invest in employee training: Ensure your team has the necessary skills to manage and optimise cloud resources. This can reduce the likelihood of costly mistakes and ensure you’re getting the most from your cloud investment.
Cost management tools
Navigating the cloud cost management landscape can be daunting, but several tools have emerged as popular choices among businesses. Here’s a look at some of the most widely used tools that can help you optimise your cloud costs:
AWS Cost Explorer: This is Amazon Web Services’ native tool for managing cloud costs. It provides a user-friendly interface to visualise, understand, and manage your AWS costs and usage over time.
Amazon CloudWatch: CloudWatch pulls metrics and logs from over 70 AWS applications, services, and resources, providing comprehensive insights into your cloud usage.
nOps: This tool is praised for its user satisfaction. It offers efficient cloud cost management solutions, making it a favourite among many users.
Apptio Cloudability: Apptio Cloudability helps businesses manage and optimise their cloud spending by providing visibility into cloud usage and expenses.
AWS Budgets: This tool gives you the ability to set custom cost and usage budgets that alert you once your costs or usage exceed (or are forecasted to exceed) your budgeted amount.
CloudCheckr: Focusing on reporting, CloudCheckr generates recommendations for cost optimisation and creates policy-based alerts.
CloudZero: As a cloud cost intelligence platform, CloudZero provides engineering teams with a real-time understanding of their unit economics by mapping cloud costs to products, features, and customers.
Densify: This tool provides visibility into cloud resource utilisation and offers recommendations for cost savings through resource optimisation.
IBM Turbonomic: IBM Turbonomic uses AI to provide full-stack application resource management, thereby helping businesses manage their cloud costs effectively.
Azure Cost Management + Billing: This is Microsoft Azure’s native tool, offering similar functionalities as its AWS counterparts. It helps users monitor, allocate, and optimise cloud spend in Azure.
Effective cost optimisation during and after cloud migration requires a strategic approach. By implementing the right strategies and leveraging powerful cost management tools, businesses can significantly reduce their cloud expenses without compromising on performance or reliability. Remember, the goal isn’t just to cut costs but to achieve greater efficiency and value from your cloud investment.