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Common KPIs in a FinOps Context

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AWS Key Performance Indicators
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Introduction
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Description

Costs in cloud environments can get complicated quickly. Therefore it is essential to provide transparency and responsibility to everyone in a business. In this course, you will learn about KPIs, how to use them correctly, and how to make the most of them in your individual use case.

Learning Objectives

  • Understand what KPIs are and how they are used
  • Learn about the most commonly used KPIs in a FinOps context

Intended Audience

This course is intended for anyone who wants to learn how to manage their AWS cloud costs effectively.

Prerequisites

To get the most out of this course, you should have a basic understanding of AWS, as well as finance and cloud terminology.

 

Transcript

The FinOps foundation is continuously working on an open-source list of the most common KPIs in a FinOps context. As a matter of fact, they provide their results publicly, so take a look if you’re interested.

You can find them on their GitHub repository.

But for now, I will explain some of the common KPIs and why they might be necessary for the decision-making process in your company.

Usage on weekends vs. weekdays. How many of your resources are used on weekdays, and how many are left for weekends?

Percentage of spot vs other coverage. How many of your resources are spot instances, meaning disposable instances that are only used for a limited time and on demand? And how many are reserved instances, that is instances that are booked for the long term?

Percentage of idle or orphaned resources. How many resources were forgotten and are running just for the sake of it? How many are being paid for, but not being used?

Aged snapshots. Do you really need all those snapshots?

Percentage of untagged or wrongly tagged resources. Percentage of total tag coverage.

Average price per hour of computing. So, how much does your business compute cost on average?

Unit cost (so, spend divided by a business metric). Can you pin down your costs to a single unit like our real-life examples from before?

 

About the Author
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Heinrich Marks
FinOps Consultant
Students
103
Courses
3

Heinrich Marks and is a FinOps Consultant at kreuzwerker Frankfurt GmbH, Germany. His expertise lies in AWS cost optimization and FinOps methodology at the enterprise level. 
At kreuzwerker, we focus on AWS, Software Engineering, and Cloud Financial Management. We've faced many cases with our customers where costs in the cloud got out of hand and lost touch with the actual business values. This made us work harder on solutions and find ways to master financial management in the cloud. 
Over time, we have already been able to save our customers many millions of dollars. Moreover, we are also proud partners of the FinOps Foundation and the leading professionals in Germany. Today, we want to share this knowledge with you and spread more awareness on the topic!