Understand cloud usage and cost
Understanding cloud usage and costs is important for effective cloud management and optimization. Gaining this understanding allows organizations to gain insight into how resources are being utilized, identify trends, and make informed decisions to optimize performance and cost efficiency. Data ingestion, allocation, reporting and analytics, and anomaly management play crucial roles in achieving this objective.
Data ingestion
Objective:
Collect, transfer, and normalize data from various sources for analysis, with a focus on understanding the usage and costs associated with an organization's cloud infrastructure.
Allocation
Objective:
Define strategies to assign and split shared cloud costs using accounts, tags, labels, and other metadata, creating accountability among teams and projects within an organization.
Get started with cost allocation:
Get started with managing shared costs:
Reporting + analytics
Objective:
Examine and showback cloud data to gain insights into usage and spend patterns to identify cost optimization opportunities, improve cost efficiency, and make informed financial decisions regarding cloud resources.
Get started with data analysis & showback:
Anomaly management
Objective:
Detect, identify, alert, and manage unexpected cloud cost and usage irregularities in a timely manner to lower risk in cost-effective cloud operations.
Get started with managing anomalies:
Content attribution for this unit: FinOps Domain: "Understand Cloud Usage & Cost" by FinOps Foundation.