Cloud is evolving and growing in every industry for all the benefits it comes with. Cost optimization is a way to reduce the total cloud cost by only charging for services that are used, discarding waste, and using resources that are needful for the organization.
The cost-effectiveness of computing services is determined by the features it provides. Cloud has been a cost savior to organizations. Although it is a time-consuming process, cloud utilises the benefits of a hybrid cloud infrastructure from private and public cloud, and keeps the ability to reduce labor demand, maintenance cost.
Let us assume the organization is already on Cloud and look at some best practices to reduce cloud costs.
1. A Detailed Assessment– The preliminary step to cut short on cloud bills is to conduct a detailed assessment of the software licenses and hardware assets in the form of a Migration Readiness assessment. The evaluation gets into understanding the dependencies of the applications, databases, hardware, and software assets in the infrastructure.
An assessment report can identify the flaws and show the deficiencies in the software licenses or any hardware asset. It also helps in knowing where your application is, what is your security management posture.
AWS has its own assessment tools such as Cloudamize, CloudChomp for a better maintained AWS cloud cost.
2. Run a Cost Optimization Assessment – The cost optimization analyzes whether the workload needs to run on reduced hardware assets or choose a different family of processes. For example, choosing AMD over Intel as your processor can save up to 10% to 15% of the IT costs.
A cloud cost assessment, an activity that might take up to two man-days to be completed. This job is carried out by a team of professionals, which analyzes the workload capacity of the cloud infrastructure.
3. Auto-Scaling– A seasonal, cyclical demand for hardware or software assets by banks, financial institutions, and telecommunication decreases cloud storage costs. Scaling the bandwidth, capacity on demand, hardware on demand for the required time period, and scale it down or keep it inactive until further use.
This practice reduces the Cloud bills to a great extent by increasing or decreasing the instances as and when the demand arises. With auto-scaling, there can be a massive cut on production costs without hampering the performance time.
4. A Well-Architected Review –A review that is based on the Well-Architected Framework, helps Cloud engineers determine a secure, high-functioning, and efficient infrastructure for a cost-effective and smoother workload. To evaluate the architectures and search for any potential issues, this is a process that is carried out professionals with a systemic approach.
The deployment architecture, dependencies, and savings without hampering the performance or data safety measures, comes with the review. By eliminating and identifying the risks in the cloud infrastructure, cloud bills are reduced.
5. Analyze the Right Storage Type – One of the most critical points is choosing the appropriate storage type for your business. Amazon S3 is the best among all the storage tools offered by AWS. However, it is also essential to keep track of the storage buckets accessed frequently to sort out the cloud storage costs.
The storage volume of the infrastructure needs to be assessed to carry out an application modernization, database modernization for bringing down the costs.
6. A Data Center Disaster Recovery (DC-DR) – The process ofrecovering lost data from key IT services by a Disaster Recovery has been proved to be a cost-effective method of storing and backing-up data in Cloud.
A disaster recovery plan is crucial for a business that wants a reasonable investment in the recovery plan, with data back-up. Cloud offerings reduce the downtime by a large scale that saves businesses big dollars per hour.
7. Software License Costs – Companies on Cloud save a considerable amount on licenses with cloud services specifically designed to optimize licenses. AWS offers a tool called OLA – Optimization and Licensing Agreement that is useful to save costs on third-party licenses and run business resources more efficiently.
Companies that have benefitted from Cloud Adoption
Cloud, as is known to all, is the fastest growing technology in today’s time. With the pandemic hit, many organizations have taken to Cloud for better results. Cloud is the answer to all the IT solutions, for expanding their business, experience work with less downtime and more efficiency.
Big scale organizations like Netflix, Pinterest, Instagram, MediaMath have taken to Cloud and expanded and upgraded their business to a whole different level. The business expansions are successful specifically for the cost-effectiveness feature of Cloud, without any harm caused to data security or the performance.
How Rapyder helped companies in reducing cloud bills
Rapyder, an innovative cloud provider with fast solutions and 24*7 support, has helped many companies migrate to Cloud and specifically to AWS Cloud for a better cost structure with over 200 cloud services.
AWS certified professionals from Rapyder take a look into all the log files and have assisted companies like MediaAssist, Oxigen, RupeeRedee, and NeoGrowth migrate to Cloud to achieve better performance with saving a great deal of value on cloud costs.
Industries across the globe are migrating to cloud for better business out-turn, saving on costs with uncompromised data security. Among a few ways of reducing your cloud bills, running a detailed assessment works the best as it comes up with issues that can be performed on, thus saving the unnecessary spend on Cloud bills.
Businesses can look at this blog and decide which might be the best practice for reducing cloud bills for them.
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