Managed Cloud Economics is revolutionising how businesses optimise cloud usage, offering solutions akin to the internet’s transformative arrival. Cloud technologies provide many advantages, including scalable environments, easy resource procurement, and innovative solutions. However, they also present challenges.
One key issue businesses face is over-provisioning, which often leads to excessive cloud costs. The complexity of cloud environments can make identifying cost drivers difficult, and once identified, managing them can seem overwhelming.
This is where managed cloud economics comes in
Managed Cloud Economics ensures businesses maximise value while minimising unnecessary cloud expenses. This service helps organisations use only essential resources without sacrificing performance. The process begins by refining data collection. Accurate data reveals where, when, and how much each service or resource costs. This clear visibility allows proper cost allocation through showback or chargeback systems.
With a clear view of spending, businesses can make informed optimisation decisions. However, some components may require more in-depth analysis. Managed Cloud Economics provides automated insights and recommendations, addressing areas like downsizing, right-sizing, or migrating resources. Businesses then choose which optimisations to implement, retaining control over their cloud environment.
Implementing managed cloud economics
Managed Cloud Economics is revolutionising how businesses optimise cloud usage, offering solutions akin to the internet’s transformative arrival. Cloud technologies provide many advantages, including scalable environments, easy resource procurement, and innovative solutions. However, they also present challenges.
One key issue businesses face is over-provisioning, which often leads to excessive cloud costs. The complexity of cloud environments can make identifying cost drivers difficult, and once identified, managing them can seem overwhelming.
Simplifies cloud cost management
This service ensures businesses achieve maximum value from cloud resources at the lowest possible cost. It focuses on utilising only the necessary resources while maintaining optimal service performance.
To start, gathering accurate data is crucial. Clear, high-quality data offers visibility into cloud costs—detailing when, where, and how much is spent on specific services or resources. This transparency allows businesses to allocate costs effectively, using showback or chargeback methods.
Sometimes, simply seeing cost allocation helps make business decisions. However, in other cases, businesses need more guidance. We provide insights based on detected trends and anomalies, recommending actions such as resizing or moving virtual machines and storage accounts. These recommendations empower businesses to take action without compromising service quality.
Maintaining control
After implementing recommendations, our automation continues to monitor changes, assessing their impact on financial performance. The cycle of optimisation then repeats, ensuring continuous improvement. Alongside this, we educate staff on resource usage, enforce threshold policies, and control procurement strategically to prevent unnecessary costs.
In conclusion, Managed Cloud Economics embodies FinOps practices, but it is much more. It combines real-time data analysis, automated monitoring, and expert guidance into a seamless service.
Discover the Power of Managed Cloud Economics. Optimise your cloud costs while maximising value and performance. Connect with our experts today to get started.
