Cost Management KPIs
Cost Management: Tagging
AWS Cost Allocation
Monitoring for underutilized services in AWS
The course is part of this learning path
This course covers the core learning objective to meet the requirements of the 'Implementing effective cost management solutions in AWS - Level 3' skill
- Apply a cost allocation tag strategy that allows AWS resources to map to business units
- Create a way to plan AWS costs to revent them exceeding a budgeted amount
- Evaluate a mechanism to monitor when underutilized AWS resources are present to optimize costs
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?
Alana Layton is an experienced technical trainer, technical content developer, and cloud engineer living out of Seattle, Washington. Her career has included teaching about AWS all over the world, creating AWS content that is fun, and working in consulting. She currently holds six AWS certifications. Outside of Cloud Academy, you can find her testing her knowledge in bar trivia, reading, or training for a marathon.