To reduce the multi-cloud cost; we have found out 5 ways that can significantly save your money on a multi-cloud environment by using a CMP (Cloud Management Platform). It is recommended to achieve cost reduction more efficiently, which provides total visibility into your cloud accounts.
1. Kick-off / Abort unused assets
Unused assets are those which were provisioned to serve a specific function but in the process left ignored or over-provisioned leading to cost leaks. Often, unused assets consist of idle EC2 and RDS instances (or their Azure / Google counterparts), empty elastic load balances, and unconnected EBS modules.
You must search for unused containers that stop these unused assets, a coding error during cloning can be very expensive when copying from container to container. Cloud containers are individually cheaper than running instances, but an error copied thousands of times over can be a costly error.
2. Optimize remaining assets
Once the unused assets have ceased, reviewing the provisioning of the remaining assets is necessary. Often developers start instances with configurations that worked for them in the past, resulting in the instances that may have more / less CPU, memory, and storage than they need. This is where the rightsizing is required.
Instead of manually checking every instance individually to make sure you are entitled to optimal cost and performance; the cloud management platform can provide you with the metrics needed to make accurate rightsizing decisions.
As leaving a light switched-on when not using can cause you a higher electricity bill, in the same way, running Non-Production Instances when access to them is not required can increase multi-cloud bills. You might feel difficulty remembering to switch it off, and you don’t even need to remember it. Scheduling is the one solution for this problem, you just have to set the start and stop timings with a click of a mouse, and your cloud management platform will do the needful.
4. Putting data at its right place
S3 storage service is the most profitable segment of the entire Amazon – and there is a good reason for that. Most AWS users take advantage of Amazon’s simple storage service because of its instant access, scalability, and guaranteed uptime. However, there are not enough users to take advantage of the Infrequent Access and Glacier storage.
The four ways to reduce multi-cloud costs listed above are to maximize savings almost entirely, but not quite. There is one more area to save, and that is your time. The automation feature will give you hands-free management. You can create platform policies to alert you when there are cost overruns, unused resources, and unaffiliated modules, etc; and giving you time to devote to important tasks
To read more about the benefits of Cloud Analytics: How can Cloud Analytics model benefit an organization?