How AWS tools help AWS spend management
Amazon Web Services offers some cost management tools, which could be perfectly sufficient for an organization depending on the demands of their cloud infrastructure. There are three main tools that all organizations using AWS should become familiar with: AWS Trusted Advisor, AWS Cost Explorer, and recently added AWS Budgets.
AWS trusted advisor
It would behoove most organizations to utilize AWS Trusted Advisor when initially constructing their AWS infrastructure. This tool evaluates user specifications and recommends instance configurations that match these specifications. In the early stages of an AWS deployment, this tool can be invaluable. It typically will reduce AWS-related costs and increase visibility. However, in the entire context of your organization’s AWS deployment, it’s not quite enough. The tool doesn’t provide significant visibility, tracking, or operational feedback. While it is a great launching point for AWS efforts, other tools typically must be utilized.
AWS cost explorer
AWS Cost Explorer provides a limited amount of visibility into the historical information of your AWS deployment. It presents and analyzes information on the AWS account in three views: Monthly spend by AWS, monthly spend by linked accounts, and your total daily spend. While your organization can deduce a significant amount of expense-related information using AWS Cost Explorer, this tool is also capable of predicting future cloud costs. It can forecast the next three months of bills if it has 80 to 95 percent certainty. Since cloud costs can be hard to determine until the bill arrives, this is an extremely useful tool for predicting and controlling cloud costs.
Amazon’s most recently developed tool has even more promise for controlling cloud spend. AWS Budgets allows your organization to plan service costs, service usage, and instance reservations. This allows IT teams to see how close their current plan is to adhering to a given budget. AWS Budgets informs users of current estimated charges from AWS, the expenses your predicted future usage could incur, and how much budget has currently been used. All AWS users get two free budgets, then they must pay two cents per day for each additional active budget. Keep in mind that AWS Budgets is designed to be used in a granular way for each team, project, or business unit – so expect to deploy many budget instances before optimizing your organizations AWS spend.