5 Keys to Unlock Cost Savings on AWS
Since the beginning of cloud computing, Amazon Web Services (AWS) has been the lead provider, offering diverse resources to streamline business procedures through internet-accessible, budget-wise solutions.
If you’ve migrated to AWS from another vendor or an on-premises data center expecting to save money, but haven’t seen results, consider applying these five tips.
AWS Trusted Advisor
Integrating with AWS Trusted Advisor is the first step for optimizing costs on AWS. This service provides you with AWS’ best practices for managing expenses and escalating performance with recommendations particular to your concerns.
AWS Trusted Advisor will probe the inner layers of your software to detect dormant resources and reveal other inefficiencies. Repurposing underperforming assets is the most easily demonstrable proposal to be cost-conscious on AWS, yet many more profound benefits can be discerned.
Don’t burden your bank account by paying for seldom utilized services; put them on pause, pay only for storage fees, then reactivate them as-needed. If the service has been replaced or is vacant, DELETE IT, and reap the benefits of cost savings on AWS.
The services analyzed by AWS Trusted Partners include:
Amazon EC2 Instances
Elastic Load Balancing
Elastic Block Store
Elastic IP Addresses
Amazon Relational Database Service
Amazon Route 53
Setting up billing alerts through AWS CloudWatch allows you to closely monitor your expenses and get notifications when specified thresholds are exceeded. Estimated charges are calculated several times per day and sent directly to your email so that you never surpass your limit.
The free version of CloudWatch enables access to 10 alarms and 1,000 email notifications per month.
“Control your expenses better than your competition. This is where you can always find the competitive advantage.” – Sam Walton
If you have multiple AWS accounts, consider consolidating your billing information. By doing so, you avoid paying for two separate data transfer fees and you will receive a volume pricing discount.
Consolidated billing comes at no additional cost and will help you monitor overall expenditures and track them directly to the source.
AWS Instance Scheduler
AWS users can manage their resource capacity and only pay for what they use on their Amazon EC2 and Amazon RDS instances by integrating AWS Instance Scheduler. Consumers can turn resources on and off as the volume is needed, paying only $5 a month.
Scaling workloads according to business hours can save up to 70% compared to companies running instances 24/7.
Amazon S3 Intelligent-Tiering
S3 Intelligent-Tiering automatically migrates data to the most cost-effective storage access tier on-demand, without any overhead. When access patterns are unpredictable, users should apply this method.