A Report by Flexera shows that waste in public cloud computing by companies stands at 35%. Given this data, companies looking for solutions to decrease waste spending increasingly turn to AWS cost management and optimization tools.
AWS cloud-native solutions allow you to build modern, scalable applications while balancing performance and cost.
Cloud-native solutions operate by breaking down applications into smaller, independent parts. And since microservices are usually developed independently, customers can make minor updates on only a subset of the features compared to monoliths. This reduces the resources spent on end-to-end testing and accelerates the time-to-market for new features.
In addition, customers operating isolated services can benefit from an agile, modular architecture, as they can seamlessly add or remove instances according to demand. Such flexibility not only reduces costs but also ensures high availability.
With Lambda, there are no physical servers to manage; it scales automatically, and you only pay for the resources you use. But what makes this scaling possible is choosing the right memory size settings for your Lambda functions.
This is where AWS Compute Optimizer comes into play. It provides memory size suggestions for Lambda functions using machine learning. The result is increased performance and reduced costs for your Lambda-based serverless workloads.
But remember that AWS Lambda operates by varying the execution times based on the activity level of a function. So, every time we execute an inactive function, it goes through a cold start, which takes much more time. To mitigate this, you can invoke your functions regularly to keep them warm.
Organizations can further optimize costs using the following AWS native tools:
Cost Explorer allows users to view historical and projected costs, uncover cost by service patterns, and understand the causes driving their budget. With the intuitive interface, it is very easy to create custom reports with high levels of detail regarding resource consumption and cost allotment.
Amazon CloudWatch offers a complete set of tools and capabilities that monitor the server performance. It gathers the data, produces intelligence, and thus creates reactions that guarantee the efficient operation of the system. CloudWatch provides automated responses through operations such as scaling resources upon specified limits that make the management of AWS services very easy and convenient.
Launched in 2018, this storage class helps optimize storage costs by moving data automatically to the most cost-efficient access tier without impacting operational or performance overheads. When using intelligent tiering, you only pay an insignificant monthly fee ($0.0025 per 1000 objects) for automation and monitoring.
AWS offers diverse managed database services, such as Amazon DynamoDB and Amazon RDS (Relational Database Service). You can use any MDB services to set up, operate, and expand your relational databases in the cloud quickly. Amazon RDS Reserved Instances enable users to secure a designated database instance for one or three years. This flexibility can help you achieve significant discounts of up to 69% compared to On-Demand prices.
All organizations that plan to manage their resources much better should embrace the cloud-native solutions in AWS. The cost optimization solutions mentioned above also help the financial management teams find new opportunities to boost efficiency. These solutions include many tools that give users a deeper understanding of cloud use, billing, and costs.