From the beginning of your cloud adoption, cloud consumption management is critical. Without proper management, costs can spiral. Utilizing a variety of short and long-term optimization strategies can reduce your business’s spend in the long term.
1. Choose the right provider
Choosing the right provider is key. Consider first where you would like your applications to run. Do you prefer virtual machines or services containerized and hosted in a serverless computing environment? The most suitable provider will offer services that fit your workflow environment.
2. Balance cost and need
Balancing cost and need is always an additional challenge. Your need-redundancy can narrow your hosting options. For example, some providers distribute workloads across multiple data centers. This method is especially affordable. You will have less redundancy, however, than if you mirrored workloads across more than one region, a more costly solution.
3. Minimize data movement
Minimizing data movement can decrease consumption and spending. If you must move data, choose a service provider that allows transfers, but keep in mind the potential for increased security risks.
4. Look into third-party tools
Research the third-party tools that your cloud provider supports. Third-party cloud consumption management tools offer improved capabilities for management, monitoring, and security. They even work better than cloud-native tools in multi-cloud environments.
Other useful tools include cost optimization mechanisms that eliminate unused resources and increase elasticity.
5. Turn to open-source platforms and databases
To further save on cloud expenditures, look into open-source platforms and databases in addition to automation and containerization. Running your cloud in a cheaper region and consolidating billing can also decrease costs in the long term.
6. Utilize advanced technologies
Utilizing advanced technologies like artificial intelligence (AI) and machine learning (ML) can reduce your cloud costs significantly. By incorporating capabilities to scan workloads, detect errors, and alert administrators, you will save time and money.