Why is cloud cost optimization important?

Cloud cost optimization is important because you want to maximize your business benefits by optimizing your cloud spend. You want to pay for cloud resources that deliver the most added value for your business. By using the best practices of cloud cost optimization you want to reduce your cloud waste. Common causes of cloud waste are; overprovisioning, unused assets or instances, data storage not optimal, missing automation, and not taking advantage of discounts.

To achieve your business goals you need to shorten the time-to-market and increase your speed of innovation. Because of that you probably have a cloud strategy to support your long-term business strategy. Cloud computing can help you to shorten the time-to-market and increase your speed of innovation. These advantages of cloud computing also bring some challenges. 

One of these challenges is optimizing your cloud cost. 

Especially when using multiple cloud solutions, which isn’t strange, in an enterprise kind of organization, this can be very challenging. If you optimize your cloud cost you will increase your business benefits. If you don’t optimize your cloud cost you will lose money. 

It is expected that in 2024 80% of companies will be unaware of their mistakes in their cloud adoption and will overspend by 20 to 50%. 

Start with cloud optimization today. Read also How do I reduce cloud costs.