The rapid evolution of cloud-based data & analytics creates new opportunities while presenting new challenges. Cloud experts believe that cloud investments will continue to grow and along with it, the wastage of resources is also increasing. Improper cloud cost governance can often lead to ballooned inefficiencies, inflated cloud bills, and deaccelerated innovation. On the other hand, getting more out of cloud resources for the same investment will translate into higher transaction volume catered and a larger user base served with a better experience, resulting in increased business value.
Cloud cost optimization deals with financial management through spend analysis and control strategies, to maximize return on investments on cloud endeavors. It is not a one-time cost-cutting measure but is a continuous cycle (monitor-analyze-optimize) for realizing value on every dollar spent.