What is cloud cost monitoring?

What is cloud cost monitoring and why is it important?

Cloud cost monitoring refers to the process of tracking, analyzing, and managing the expenses associated with using cloud-based services and infrastructure. It helps organizations identify opportunities for cost optimization, prevent overspending, and ensure they are getting the most value from their cloud investments. By implementing cloud cost monitoring, organizations can regulate costs, avoid budget limits, and maximize resource utilization.

• Compute: Processing power, memory, and temporary storage needed to run workloads.
• Network connectivity: Network capacity used for applications.
• Storage capacity: Amount of data stored in gigabytes (GB).

How can you calculate the cost of cloud storage?

To calculate the cost of cloud storage, divide the total monthly bill by the amount of data stored in gigabytes (GB). For example, if a user pays $10 per month for 100 GB of storage, their cost per GB is $0.1.

• Cost per GB: Total monthly bill / Amount of data stored in GB.

What are some popular cloud cost management tools?

There are several cloud cost management tools available to help organizations monitor and optimize their cloud spending. Some popular tools include AWS Budgets, Azure Cost Management, CloudCheckr, and Datadog Cloud Cost Management.

• AWS Budgets: Custom cost and usage budgets, RI utilization and coverage tracking.
• Azure Cost Management: Cost analysis, export, budgeting, and cloud optimization within Microsoft's Azure ecosystem.
• CloudCheckr: Part of NetApp's Spot constellation, tracks consumption, forecasting, and rightsizing of instances.
• Datadog Cloud Cost Management: Provides cost data for engineers to reduce unnecessary compute, storage, or data transfer costs.

Are there any other cloud cost management tools available?

Yes, there are several other cloud cost management tools available, including Amazon CloudWatch, Densify, Virtana Optimize, Harness Cost Management, and Apptio Cloudability.

• Amazon CloudWatch: Monitoring and observability service for AWS resources.
• Densify: Cloud and container resource management platform.
• Virtana Optimize: Hybrid cloud optimization and management tool.
• Harness Cost Management: Real-time cloud cost visibility and optimization.
• Apptio Cloudability: Cloud cost management and optimization platform.

How can Secoda help with cloud cost monitoring?

Secoda, a data management platform, can assist organizations in managing their cloud costs by providing a centralized location for data discovery, cataloging, monitoring, and documentation. While Secoda does not directly offer cloud cost monitoring features, its data management capabilities can help data teams efficiently organize and analyze cloud usage data, enabling them to identify cost optimization opportunities and better manage their cloud expenses.

• Data discovery: Secoda's universal data discovery tool helps users find metadata, charts, queries, and documentation related to cloud usage and costs.
• Centralization: Secoda serves as a single place for all incoming data and metadata, simplifying the process of tracking and analyzing cloud costs.
• Automation: Secoda automates data discovery and documentation, streamlining the process of monitoring cloud expenses.
• AI-powered: Secoda's AI capabilities help data teams double their efficiency in managing and optimizing cloud costs.