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AWS Cost Optimization: Best Practices, Tools, Using Pricing Models and Benefits
- AWS cost optimization is crucial to manage cloud computing costs, and it can be efficiently implemented using pay-as-you-go pricing, cost management tools including AWS Cost Explorer, Amazon S3 analytics, AWS Budgets, and AWS Trusted Advisor, and choosing the right pricing models like Reserved Instances, Savings Plans, and Spot Instances.
- Best practices for AWS cost optimization include matching capacity with demand, identifying resource waste and choosing the right pricing options. Proactive monitoring of AWS spending for ongoing optimization is essential.
- The top AWS cost optimization tools include AWS Cost Explorer, AWS Trusted Advisor, Amazon S3 analytics, AWS Budgets, and AWS Cost and Usage Reports. Third-party cost optimization tools for AWS include CloudCheckr, CloudZero, Cloudability, and Densify.
- AWS Cost Optimization Hub collects cost optimization recommendations across your AWS accounts and regions in one place and provides an estimate of the savings to expect from implementing the recommendations.
- Optimizing AWS S3 costs involves switching objects between the Standard and Standard IA classes using S3 analytics, storing infrequently accessed objects in S3 Intelligent-Tiering, and adding lifecycle policies to manage objects in an S3 bucket.
- With AWS EC2, you can optimize costs by choosing the right pricing model, monitoring instance usage levels, and configuring a running schedule using AWS Instance Scheduler.
- Different AWS pricing models like Spot Instances, Reserved Instances, Savings Plans, and EC2 Fleet can help optimize cloud costs.
- Benefits of AWS cost optimization include improved cost efficiency, reduced waste, improved profit margin, optimized performance, and enhanced resource allocation.
- When it comes to cost comparison, AWS is more expensive than GCP when it comes to on-demand, general-purpose instances, while Azure is about as expensive as or sometimes cheaper than AWS pricing for running on-demand, general-purpose instances.
- AWS cost optimization is a continuous process toward cost and resource efficiency, and it can be achieved efficiently using various tools and pricing models.
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