?? Cloud FinOps Cheers #6 - The 7 Awesome AWS FinOps Services
All,
Once upon a time, businesses used to manage their infrastructure and applications on-premises, meaning they had complete control over their costs. However, with the rise of the cloud, the cost of running applications and services became a little murky, and businesses began struggling to manage their cloud costs effectively. This is where AWS Cloud Financial Management comes into play, and in industry we call it as Cloud FinOps.
AWS Cloud Financial Management (CFM) refers to the process of managing and optimizing cloud costs effectively. AWS calls this process Cloud FinOps or AWS CFM, which includes four principles: See (Measurement and Accountability), Save (Cost Optimization), Plan (Forecasting), and Run (Financial Operations). CFM is designed to help businesses keep their cloud spending aligned with their business objectives and manage costs.
AWS Budgets is a service that allows you to set custom cost and usage budgets for your AWS resources. With AWS Budgets, you can set monthly or daily budgets, as well as custom time periods, and get alerts when you exceed your budgeted amounts. AWS Budgets provides several benefits for businesses, including Cost Control, Visibility, Customization & Simplified Management.?
With the AWS Cost & Usage Report, you can access detailed reports that show your usage and costs across different AWS services, accounts, and regions. The reports are available in various formats, including CSV, Parquet, and Apache Avro, which makes it easy to analyze the data in different ways.?
AWS Cost Explorer is a service that provides you with a comprehensive view of your AWS costs and usage. It allows you to visualize and analyze your AWS costs and usage data, which can help you gain insight into your cloud spending and optimize your cloud costs. You can also filter the data by time, usage type, and other criteria to get a detailed view of your cloud spending. AWS Cost Explorer provides many benefits for businesses, including - Cost Visibility, Customization, and Cost Optimization.
AWS Reserved Instance (RI) Reporting is a valuable service for businesses looking to gain insight into their AWS Reserved Instance utilization. By providing detailed information on your Reserved Instance usage, it allows you to optimize your Reserved Instance usage and reduce your cloud spend. If you're looking to manage your AWS costs effectively, AWS RI Reporting is worth considering. AWS RI Reporting provides many benefits for businesses, including -Cost Optimization, Customization, & Reserved Instance Planning.
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AWS Savings Plans is a pricing model designed to help customers save money on their AWS usage. It provides customers with a flexible way to save on their cloud costs by offering savings of up to 72% on their usage compared to On-Demand pricing. AWS Savings Plans provide many benefits for businesses, including Cost Savings, Flexibility, Simple Management, & Predictability. Setting up AWS Savings Plans is simple.
AWS Application Cost Profiler is a tool that provides customers with an easy and automated way to measure the cost of running applications on AWS. It allows users to analyze the cost of individual application components and identify opportunities to optimize their cloud costs. AWS Application Cost Profiler provides many benefits for businesses, including - Cost Optimization, Automated Analysis, Customization, & Simplified Management.
The AWS Billing Conductor is a customizable billing service, allowing you to customize your billing data to match your desired business structure. Once each billing group is defined, you will be able to view the output of your configuration, by billing group, on the billing console bills page as well as generate a Cost and Usage Report (CUR) for each billing group.
Enjoy learning, and see you in the next?#CloudFinOpsCheers