AWS COST OPTIMIZATION: BEST PRACTICES FOR FINANCIAL EFFICIENCY IN THE CLOUD AWS or Amazon Web Services has many services and solutions to help you in your business journey. From raw computing power to over 200 + services, AWS is the oldest and the largest player in cloud services. The platform’s simplicity, global infrastructure, affordable solutions, and flexible pricing models make AWS the most popular public cloud provider. Cost optimization can be defined as a process of continual refinement and improvement done on a workload in its lifecycle to ensure that it achieves the business outcomes while minimizing the cost and maximizing the ROI. This requires you to build and operate cost-aware workloads. AWS and other cloud services are consumption-based models. When you are moving to AWS from on-premises, you do not have to pay the costs upfront. You only must pay for what you use and provision resources on an as-need basis. This means that you need a total change in the operational best practices, automation, and organizational incentives to implement cost optimization. The best way is to start implementing AWS cost optimization practices early on so that you can scale it as your business grows. The well-architected framework consists of best practices laid down by AWS that focus on six areas to optimize your AWS usage. Investing in cloud financial management is the first step to achieving financial success and faster realization of business value in the cloud. You need to invest time, money, and resources in building financial management capability and become a cost-efficient organization. To build capabilities in the domain of technology and usage management, you need to use knowledge building, programs, resources, and processes. You only must pay for what you use on the cloud. Design your cloud environment to increase or decrease the usage of resources based on the requirements. Measure the business output and the associated cost of delivery for every workload and use the data to understand the gains that you can obtain by increasing functionality and output or by decreasing costs. AWS does the heavy lifting for data center operations like racking, stacking, and powering servers, and does operational tasks with managed services such as managing operating systems and applications. Cloud Services 8.1K Operating Systems 9.9K

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