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Cloud Cost Optimisation: Point in time or Continuous Improvement?

Cloud computing has revolutionised the way we do business, offering unprecedented flexibility, scalability, and accessibility. However, with the multitude of cloud services available, it can be easy to spend more than you need to on cloud infrastructure and services. In this post, we will discuss practical strategies for optimising your cloud costs and maximising your savings.

1. Identify and Eliminate Unused Resources

One of the biggest drivers of cloud costs is the continued use of unused resources. These resources consume valuable computing and storage capacity, and they can add up quickly. To optimise your cloud costs, it's essential to identify and eliminate these unused resources. This can be achieved by regularly reviewing your resource usage, identifying underutilised or idle resources, and either deleting or scaling them down as needed.

2. Utilise Cost-Effective Storage Options

Cloud storage can be one of the most expensive components of your cloud infrastructure. To optimise your costs, it's important to choose the right storage option for your needs. For example, if you have infrequently accessed data, you can opt for lower-cost storage options like Amazon S3's Glacier storage class or Microsoft Azure's Cool Blob storage.

3. Take Advantage of Cost-Saving Tools and Services

Many cloud service providers offer cost-saving tools and services that can help you optimise your cloud costs. For example, Amazon Web Services (AWS) offers a variety of cost optimisation tools and services, such as AWS Trusted Advisor and AWS Cost Explorer, which can help you identify and address cost optimisation opportunities. Additionally, many cloud service providers offer reserved instances, which allow you to commit to using a certain amount of computing capacity over a specified period of time, in exchange for a discounted rate.

4. Use Auto-Scaling to Manage Resource Usage

Auto-scaling is a feature that allows your cloud infrastructure to automatically adjust its capacity in response to changes in resource demand. This can be a powerful tool for reducing cloud costs, as it ensures that you only pay for the resources you actually need, without sacrificing performance or functionality.

5. Adopt Cloud FinOps Practices

Cloud FinOps is a financial management practice for cloud computing that helps organisations optimise their cloud costs. It involves establishing financial processes, tools, and teams that work together to ensure efficient spending on cloud resources. Cloud FinOps practices include cost forecasting, budgeting, chargeback and showback, rightsizing, and cost optimisation. By adopting Cloud FinOps practices, you can gain better visibility into your cloud costs, and make informed decisions about how to reduce them.

6. Monitor Your Cloud Costs Regularly

Finally, it's important to monitor your cloud costs regularly to ensure that you're staying on track with your cost optimisation efforts. This can be achieved through the use of cost reporting tools, such as those offered by your cloud service provider, or by regularly reviewing your cloud bill.

Cloud cost optimisation is an ongoing process, but by following these strategies, you can minimise your cloud costs and maximise your savings. By regularly monitoring your cloud usage and implementing cost-saving strategies, you can ensure that your cloud infrastructure continues to meet your needs, while also reducing costs.

Speak to Inca Cloud today to see how we can help your organisation take control over your cloud costs, by implementing our automated tools that take advantage of these strategies.

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