June 05, 2024 Big Data
In the last few years, organizations have been expecting their IT departments to operate using a cloud-first strategy for the benefits that cloud computing offers. From greater flexibility, scalability and efficiency, organizations can expect to reap higher cost savings in the long run.
Unfortunately, approximately half of these organizations are unsure if they are meeting their cloud-based cost objectives, thus impacting the cost of ownership. In fact, many organizations have experienced higher-than-expected cloud costs, underscoring the importance of cloud planning and management. While organizations should treat and manage cloud costs as a foremost priority in optimizing their IT budgets, there are some factors that could lead to overspending on cloud, such as:
- Non-visible cloud costing
- Under-utilized and wasted resources in cloud computing
- Misunderstanding between pricing and billing
- Governance challenges in management and processes
- Incorrect deployments
- Inaccurate forecasts
- Data egress charges
- Organic or unplanned adoption
- Unintended over-subscription
- Unanticipated demand
In this whitepaper, we explore the best practices and strategies for cloud-cost optimization that businesses can use to achieve maximum value from their cloud investments.