Cloud Cost Optimization
The recent economic downturn has generated immense interest in cutting costs and optimizing performance across IT. Many organizations are re-examining their spending, particularly in the area of public cloud services.
Research commissioned by Cloudability and conducted by 451 Research, suggests there is plenty of room for improvement around cloud performance and cost optimization. Of individuals surveyed, 85% indicated they overspend, with 82% reporting they track their costs manually, via native cloud tools, or not at all. Further, roughly 45% indicate they have not taken more action around cloud costs, because of concern for hindering innovation.
All of this suggests there isn’t a high level of maturity around cloud cost optimization, and for good reason. As stated above, organizations do not want to hinder their ability to drive innovation. Yet, an analysis done by Harvard Business Review of the past 3 recessions indicates that organizations focused on the correct application of cost reduction, innovation and business efficiency are 8 times more likely to emerge from a recession stronger than they entered.
As we enter this new economic period, this document is meant to act as a guide for IT organizations looking to thread that needle.