In it´s most simplified form cloud economics is the knowledge of technical principles, the cost and benefits of public cloud computing.
In practice, this is driven by the applications and services you run, your workloads and the people and competence related to the operations of this.
Contact us and learn how our Managed Services can help you control and optimize your cloud economics.
“The faster your industry needs to change, the more value public cloud brings”
Good cloud economics is achieved by understanding and constantly optimizing the balance between technical and financial goals of using the public cloud. In other words, the key to success is to treat this as an ongoing process and not a one-time task.
In concrete terms to gain control and visibility over your organizations cloud economics situation means to have the information when new technologies and services are introduced that could benefit you, when price reductions happen and new consumption models are introduced.
Doing this manually will be a cumbersome and time-consuming hassle, not doing this at all will eventually lead to cost inefficiencies and sub optimized performance i.e. no bang for the buck.
A rule of thumb here is that the faster your industry need to change, the more value public cloud brings. Our recommendations to take your cloud economics to the next level is:
- Make cloud economics an ongoing process. Invest in a Service that help you optimise and reduce spend, track budget costs and detect anomalies in your consumption patterns.
- Evaluate different options available before adding a new systems and workloads.
- Rightsizing the different IaaS and PaaS components you use, establish a baseline based on your current need and develop it from there.
- Purchase commitments for your long-running and predictive workloads, savings up to 70-80% can be achieved compared to running the workload in regular Pay-as-you-go mode.
- Have a clear model for ownership and tagging of all resources to avoid over-provisioning and orphaned components and services.