Cloud Cost Optimization: Comparing Traditional vs Augmented FinOps

FinOps is a discipline that provides organizations with the necessary framework to improve visibility and accountability while optimizing cloud spending. However, traditional FinOps has limitations when it comes to automating cost savings. Augmented FinOps incorporates software licenses and hybrid environments as well as AI/ML to address the inherent complexity in cloud environments and help practitioners save time and effort. Best practices for FinOps include turning off idle resources, rightsizing overprovisioned resources, committing to usage for discounts, promoting a cost transparency culture, and forecasting future cloud investments.

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