Challenge: Increasing IT demand in the face of smaller budgets
Your highest IT budget priorities might be business processes, security, more customers, or bigger customers — but reducing IT costs remains a top priority. Meanwhile, ever-improving technology and the evolving needs of your company can quickly render your cloud resources useless or obsolete.
What you need to know before you buy Standard Reserved Instances
Standard Reserved Instances are regarded as the #1 recommended quick fix for reducing your AWS EC2 bill. RI's enable you to get substantial discount over on-demand prices while providing flexible spending for your capital expense budget dollars. In spite of these advantages, Standard Reserved Instances remain an unsought option for many AWS customers. Simply put, you are locked in for fixed pricing, instance type, and application architecture.
Cloudwiry has been reducing AWS costs for its customers for almost 5 years. This has provided us a unique vantage point on how users, both big and small, adapt to the dynamic nature of the cloud.
Most AWS users experience 4 distinct phases of cost management once they have made the transition from internal data centers to using on-demand cloud assets. Here is an overview of these 4 phases to highlight the need for cloud adopters to introduce cost containment/optimization tools and guidelines soon after the transition to cloud use in order to prevent costs from returning to prior data center levels.