AWS Cost Optimization Guide: Part 1
Today, my writeup includes a number of advanced cost-cutting approaches that can help you save money on AWS without sacrificing application performance or disaster-prevention redundancy. These practices are intended for AWS administrators and cloud engineering managers who want to learn more about the less well-known parts of AWS pricing.
If you have queries concerning cost-cutting techniques for AWS Services? Feel free to send me a message! As best practices and AWS products improve, I will continue to add follow-up write-ups after today’s blog.
The Fundamentals of Amazon Web Services Cost Optimization
Cloud cost optimization, at its most basic level, is a practice that can be broken down into the following cycle:
Step 1: Build Asset Awareness
Inventory analysis, labeling, and monitoring can help you become more aware of your assets. Make sure you know not only what resources you have, but also how they work together and what applications they support.
Step 2: Collect Key Metric Data
Set benchmarks for month-to-month and year-to-year trend analysis by collecting key metric data. Because of the cataloging completed in step 1, you can safely estimate your budgetary forecast.
Step 3: Update Your Knowledge
Refresh your understanding of the services, resources, and discount programs that are accessible to you.
Step 4: Execute Data-Driven Purchase Strategy
Implement a data-driven purchasing plan that incorporates all the preceding phases. Right-sizing resources, assessing existing commitments for utilization and efficacy, upgrading to relevant instance generations, and validating new commitments over a one- or three-year horizon should all be part of this approach.
Now there are a few more areas to look at while thinking of cost optimization, which I’ll cover in the next writeups-
- AWS EBS Pricing
- AWS Data Transfer Pricing
- AWS Disaster Recovery Pricing
- AWS Savings Plans
- AWS Cost Allocation Tags
- EC2 Spot Instances
- AWS Bill Analysis
- AWS Sizing Tools
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