5 Ways in Which You Can Reduce Your Cloud Bill
Multi-cloud strategies are quickly becoming the cloud computing norm in 2019 as organizations continue to explore new avenues to bring down cloud-related costs. According to reports, about 50% of the respondents spend more than $1.2 million every year on Public Cloud. And 13% of them spend as much as $12 million!
As evident, an un-optimised cloud strategy can spiral costs out of control before you know what went wrong. So let's get to the chase and take a look at the checklist that will help you avoid such a mayday:
1. Drill Down on Unused Resources
While this is an obvious one, some important checks/solutions here can include:
2. Use an Appropriate Storage Class
Cloud Providers include different tiers of object storage classes. For every tier, costs are broken down according to the actual storage, number of HTTP PUT and GET requests, and the volume of transferred data. To optimise cloud data storage costs, your develop or cloud manager needs to leverage object life cycle management that automatically transitions data between storage classes.
3. Select a Relevant Instance Type
To reduce costs, it is crucial to deploy the most cost-effective practices for your application workload. Consider variables such as the amount of required memory and the type of processing unit. Further optimisation can also be realised by tagging instances and setting up ‘No Tags, No Instance’ policies with dedicated tools.
4. Constantly Monitor Cloud Usage
Using cloud usage monitoring and management tools, such as TrustedAdvisor and CloudWatch, is mandatory if you plan to scale. Not only do they collect crucial cloud usage data, but they can also identify idle cloud resources via configuration checks. Such tools can even help you leverage the best cloud management practices, set up alerts, monitor log files, and automatically react to changes.
5. Use Reserved and Spot Instances
Instead of one-time buys, use reserved and spot instances to significantly bring down your cloud costs. Even though it would make you commit to the cloud platform for a period of 1-3 years, the resulting savings are totally worth it if you have large-scale cloud dependencies. By selecting the right reservation, you can even pay cloud costs on a per month basis.
When it comes to cloud savings, always keep in mind that numerous small gains will eventually amount to big differences in your cloud bills. This is especially true for organisations who are in the scaling stage. Leveraging all of these tips cohesively can significantly help your case.