Everyone is doing it. No, I am not talking about the latest Tik Tok challenge… The thing that everybody is doing—every company, that is—is that they are spending more money in the cloud than they need to. In fact, 82% of respondents in our own recent survey admitted that their organizations have incurred unnecessary cloud costs.
Not all cloud cost management tools are equal. Whether you’re in the process of evaluating cloud cost management vendors or already have a tool in place, here are 19 questions you should ask to ensure you have all the capabilities needed to maximize performance and minimize cost of your hybrid cloud deployment across the following.
In a survey we conducted last year, we discovered that many enterprises overestimate their ability to optimize their hybrid cloud infrastructures. More than three-quarters of respondents gave themselves high marks for a range of capabilities. Here’s the exact breakdown of the number who rated their abilities a 4 or 5 out of 5: This sounds like great news, except there’s a problem. When we asked about how easy it is to get a global view of cloud costs, 42% said that it takes some effort.
Unless you are one of the 1% of enterprises that have zero workloads running in the publice cloud, you need a cloud cost optimization tool. Yes, you do. And if you have workloads running in multiple public clouds—which somewhere in the neighborhood of 85% of enterprises do—you really need a cloud cost optimization tool. If I’m preaching to the choir, feel free to skip to the end of this article where you’ll find a link to try Virtana Optimize for free.
The success of your enterprise’s digital transformation relies in no small part on your hybrid cloud infrastructure, which SearchCloud Computing defines as “a cloud computing environment that uses a mix of on-premises, private cloud and third-party, public cloud services with orchestration between these platforms.” Because this infrastructure is not a homogeneous environment, migration, management, and optimization can be an ongoing challenge.
The as-a-service model and shared economy has changed the way people think about products, properties, and partnerships. Netflix found massive success not by improving the DVD experience but by eliminating it altogether. Companies like WeWork, Airbnb, and Vrbo created a shared economy that reduces the need for ownership. As a part of our business transformation in the last one year, Virtana has embraced both the sharing economy and as-a-service subscription.
Cloud computing has many benefits. But there are also challenges, and cloud cost management may be one of the biggest. Here are 49 stats, benefits, and hard truths you need to know about cloud cost management, along with tips and requirements to help you take control and keep your spending in check while delivering on all the value you’re looking for.
In an on-premises environment, you have to pay for the capacity you have regardless of whether you’re using it, and you can’t exceed that capacity without purchasing and provisioning new hardware. In the cloud, however, you have much more flexibility thanks to cloud elasticity, which is the ability to automatically provision or deprovision resources based on workload changes.
