Cloud Cost Optimization Strategies to Follow in 2020

What is Cloud Cost Optimization? Why it Matters?

Cloud cost optimization is a process of reducing the total cost spent on cloud services by cleaning up unused resources and allotting the right-sized space to the computing services.

Best Strategies for Cloud Cost Optimization

There are many ways to identify and optimize cloud costs. Some of them are listed below.

A Sample Cloud Cost Optimization Model

It is generally assumed that baselining VMs is the only way to reduce the cloud cost but many other aspects need consideration to save the cloud cost. Let’s understand this in detail.

  1. Performance: If the customers are located in a single region, it is preferable to host storage in the area closer to the customer. In the case of global customers, it is preferable to host multi-regional storage. This will help in decreasing the lag and increasing performance.
  2. Retention: The retention period of data type can be estimated by asking, “Is this object valuable?” and “For how long will this object be valuable?” These two questions will determine the appropriate lifecycle policy.
  3. Access Pattern: “How long you need the data?” and “How frequently you retrieve the data?” are the two questions that will determine the specific storage policy required for the customer.

Conclusion

Every growing organization is embracing the cloud and it is imperative to reach the market faster in response to the changing market dynamics. If not appropriately managed, cloud services can cost a lot as they follow a usage-based model. Hence, running unnecessary instances, poor allotment of disk space, and unwanted disks attached to instances that are not in use can increase your cloud cost. However, as long as cloud cost optimization strategies are followed, many unwanted infrastructure expenses can be easily avoided.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
GSPANN

GSPANN

GSPANN Technologies transforms businesses by helping them optimize their IT capabilities, practices, and operations.