Real-world Strategies for Cloud Cost Optimization
Featured Speakers:
- Arijit Bandyopadhyay, CTO – Enterprise Analytics & AI, Head of Strategy and M&A – Enterprise & Cloud (DCAI Group), Intel® Corporation
- Doug Henschen, Vice President and Principal Analyst, Constellation Research
- Mark Cusack, CTO, Yellowbrick
- Heather Brodbeck, VP Rev Ops, Yellowbrick
Establishing a Cloud Cost Optimization Framework
In this webinar series, leaders from Intel®, Constellation Research, and Yellowbrick discuss the biggest opportunities for cloud cost reductions. Our panel of industry experts shares strategies for maximizing your cloud infrastructure while minimizing costs.
In Episode 5, our experts discuss common challenges when managing cloud expenditures. We share best practices to help you make informed decisions about the best price-performance and efficiency for your data warehouse.
Learn why it’s essential to regularly assess your cloud environments and adjust costs and usage. Our experts also share how you can take advantage of new cost-saving opportunities in the cloud ecosystem.
Key Takeaways:
- Review your licensing model. Our experts recommend regularly assessing and updating your licensing model to ensure it aligns with your business needs. Consider your company’s growth and the requirements set by your CIO.
- Start small and scale. Cloud data warehouse vendors are not passing on savings or performance improvements to customers. CFOs need to stay vigilant when managing cloud services. The best-performing organizations start small and gradually increase their cloud expenditure as their business grows.
- Establish a cloud center of excellence. Creating a centralized team – known as a cloud center of excellence (CCOE) – can help promote best practices. The team can also provide guidelines for cloud cost optimization. CCOE team members typically include finance, IT, and other business units working together to:
- Consolidate purchasing.
- Accelerate deployments.
- Avoid unplanned adoption.
- Prevent poor post-merger integration.
- Employ cost optimization policies and guard rails. We discuss how you can implement policies and guardrails to optimize costs effectively. These practices include:
- Right-sizing compute instances.
- Restricting permissible instance types.
- Automatically shutting down workloads after hours.
- Setting up expiration dates for unused storage.
- Transparency in your cloud investments. Businesses must push for transparency from cloud vendors. Our panel recommends requesting detailed insights into where your money is being spent. Evaluate the value you are receiving from their investments.
- Explore cost-saving options. Actively explore cost-saving options provided by public cloud providers or third-party service providers. For example, leveraging services that resell unused reserve instance capacity can lead to sizable discounts. You can reduce costs without compromising performance by staying current with available options and exploring opportunities.
Actionable Insights for Reducing Cloud Spend
In the final episode, Arijit Bandyopadhyay, Doug Henschen, Mark Cusack, and Heather Brodbeck share valuable strategies for managing cloud expenditures.
Managing cloud costs is critical for optimizing operations and maximizing your return on investment. This video provides valuable insights and practical strategies to help you navigate the complex landscape of cloud cost optimization.
Watch the video to learn how to reduce cloud costs, enhance efficiency, and drive business growth.
