Cloud Cost Optimization A Business Priority
Multi-cloud deployments are becoming the norm, which means that Cloud cost optimization and management is a major theme for 2019.
But the market is not yet mature, and you will need to sort through multiple vendors to control expenses related to Cloud Computing. According to recent polls, it has become painfully obvious that there is some problem with deployments in the cloud. IT Executives have been somewhat surprised, as they expand their services, to find that the cost of cloud computing is not as cheap as they expected. The concern about the costs of computing in the cloud is not surprising. In recent years, companies have migrated to the cloud storage and computing power.
A. Price Cuts May Be On Their Way Out
Customers have benefited from the competition between Amazon Web Services, Microsoft Azure and Google Cloud Platform, but now that you are a good customer, price increases may begin soon. IDC estimates that global spending on public cloud services and infrastructure will reach $ 210 billion in 2019, 23.8% more than in 2018. By 2022, spending on services and infrastructure in the public cloud will reach $ 210 billion in the public cloud will reach 370 billion dollars. SaaS will account for half of the expenses with IaaS in the second position.
More mature cloud customers are benefiting from artificial intelligence, machine learning and a host of new services. Today’s cloud computing customers are more agile than ever, but their infrastructure is not really an economic feat. Add to that the costs of SaaS software and the cloud expense line can quickly inflate
B. Is Cloud Cost Optimization not prioritized?
Various studies and reports published in the past months have indicated that cost optimization is a business priority. And this obviously correlates with the fact that multi-cloud deployments are gaining momentum.
However, many organizations do not do basic cost optimization to reduce their monthly spend. Complications related to the use of containers and costs can increase rapidly.
Not surprisingly, IT Executives realized the importance of Cloud Cost Optimization and now cost savings as part of their cloud initiative. Companies also want better financial reporting on cloud costs as well as teams to negotiate cloud services. What is needed is more policy automation to do basic cloud management, but too many companies are still in the manual stage. Rest assured that there will be a host of technology providers lining up to help you slide into the cloud.
In January, Gartner launched its first Magic Quadrant designed to measure cloud management platform performance. Gartner estimates that the number of cloud-based management platforms available on the market will more than double by 2021 to exceed 30
C. Cloud Cost Optimization Platforms
RightScale, Scalr, Embotics, Morpheus Data & Stackiton are just some of the platforms that can begin to look at cloud computing cost optimization.
For starters, organizations need to follow cost management best practices such as workload and instance monitoring, cloud vendor competition, and discount optimization offered by public cloud actors. It is widely accepted that cloud customers do not benefit from the discounts they receive.
Adding all this together, there is no magic bullet to optimize the costs of cloud
computing. At the very least, businesses need to start paying more attention as the market grows, with a view to greater automation