So you migrated your applications, servers and databases to the cloud. What do you do next? Cost Optimization.
A crucial step to enjoy the benefit of the cloud is cost optimization. It allows you to manage your cloud resources effectively and maximize the value of your investment in Amazon Web Services (AWS). For that reason, you must identify opportunities to reduce costs while maintaining performance and meeting your business requirements.
Here are 6 best practices for AWS cost optimization:
- Monitor and analyze costs
Use AWS Cost Explorer, AWS Budgets, and other cost management tools to analyze cost trends, identify cost drivers, and gain visibility into resource usage patterns.
- Right-sizing instances
Select instances that offer the right balance of CPU, memory, and storage resources to avoid overprovisioning. AWS Trusted Advisor and AWS Compute Optimizer can provide recommendations for right-sizing your instances.
RIs and Savings Plans offer significant discounts compared to On-Demand pricing.
Spot Instances provide significant cost savings for non-critical workloads or applications that can tolerate interruptions.
- Auto Scaling
Auto Scaling adjusts dynamically the number of instances based on workload demands. Auto scaling ensures you have the right amount of resources available when needed and avoids overprovisioning during periods of low demand.
- Storage optimization
Use Amazon S3 Intelligent-Tiering or Amazon Glacier for infrequently accessed data to reduce costs to optimize your storage costs.
- Serverless architectures
Pay only for the actual execution time of your code, and eliminate the need for provisioning and managing servers. For example, use AWS Lambda.
- Cost Allocation Tags
Tags enables you to identify cost drivers and optimize spending. AWS cost allocation tags help you track costs and gain insights into resource usage.
Cost optimization is an ongoing process. Continuously monitor and analyze your AWS costs, review new services and pricing options, and refine your architecture and resource usage to optimize costs. This is how you will effectively manage and optimize your AWS costs while ensuring your infrastructure meets performance and scalability requirements.
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