To reduce your cloud costs, you must first identify waste by uncovering inefficient use of cloud resources. Cloud cost optimization is not a once-and-done process, but you can immediately start saving money on your cloud infrastructure costs if you address key areas that account for the majority of wasted cloud spend and budget overruns. Organizations use instances according to highest peak of requirement which is not constant. Due to variation in requirement, organizations have to pay for non-utilized instances.

While the benefits of cloud are clear, the on-demand nature of cloud use often results in uncontrolled cloud costs, requiring a completely new approach to managing and optimizing spend, or it’s possible to get a surprise bill at the end of the month that’s several times more than you planned for. The lack of cloud cost optimization processes is resulting in significant waste in public cloud spend.