Ways Companies Can Save On Their Cloud Computing Costs
Your cloud expenses are dependent on your company size and cloud adoption. Your organisation's cloud use however, can be affected by circumstances beyond your control.
An undeniable example of this would be the Covid-19 pandemic. Large work forces were sent to work from home and massively accelerated the trend of cloud migration.
So how do you shrink your company's cloud spend? Consider the following strategies:
Rightsizing
Cloud resources are flexible or elastic and can be scaled up or down according to your business use. Rightsizing your resources will require optimising computing, storage and network settings to suit your business.This allows you to balance maximum performance and lowest possible cost.
Automation
Effective scheduling of your resources such as EC2 and RDS databases in your cloud, can increases the efficiency of your workloads save cost and reduces the time of employees involved in management and DevOps thus focusing on core business value. Automate the starting and stopping EC2 instances and RDS databases according to the hours they are usually utilised to eliminate the need to manually control these instances and save cost.
Analytics
Review the usage of the cloud by employing analytic tools. You can measure the engagement that each user has in the system and subsequently minimise the cost of operation. By highlighting unused or depreciated items in the cloud environment,such resources can be stopped and removed.
Elastic Load Balancers(ELBs)
ELBs distribute traffic and balance workloads in your cloud environment. However, if you are not making use of the ELB, you will still have to pay for it. If,after viewing your cloud you find there are instances not associated with your ELB - you might consider deleting the instance.
Each of the above strategies in isolation can help you to reduce your companies cloud expenditure but why stop there?
Combine multiple strategies to maximise the potential savings. Consider cloud management software which centre around these strategies. Take control of your cloud operations and cost to become more cloud efficient.