The 4Cs of Multi Cloud – Cost Analytics
In this series of blog posts, we will be looking at the 4C approach of multi cloud governance followed by CoreStack. In this first post, we will be exploring the first C, Cost Analytics and how effective analysis and monitoring of costs can lead to better cloud governance.
Multi cloud provides organizations cost flexibility because different cloud providers compete against each other, reducing prices all the time. Having a multi cloud strategy and an easy way to manage workloads across cloud providers helps organizations to move the workloads where the cost efficiency is available without compromising on performance or security. To maximize the cost advantage with a multi cloud strategy, organizations need a cost analytics system available on their multi cloud platform.
A good cost analytics platform should give complete visibility over the spend across multiple cloud providers in a fine-grained fashion including details like
- Total cloud spend
- Cloud spend by accounts
- Cloud spend by regions
- Cloud spend by services in different regions
- Historical data
When such cost analytics is available on the multi cloud management platform, it allows organizations to not only create workflows that can optimize cloud spend based on what cloud providers offer, but also help different teams stay compliant to the governance policies. CoreStack platform is built to ensure that cost analytics is one of the core pillars (one of the 4Cs) of the platform.
The cost analytics tab gives the holistic overview of the cost (as defined the role of the user and the user permissions). Developers can use this to ensure that they are innovating under the budget and managers can allocate resources more efficiently based on their team needs. Since CoreStack platform offers an automated workflow for resource provisioning, the cost visibility will allow managers to make an informed decision on resource allocation. One of the biggest cost related risks with cloud is the cost of unused resources. Organizations using cloud providers are familiar with the cost of resources not shut down by a developer or a team. Lack of visibility was often cited as the reason for such resource wastage and CoreStack platform tackles the problem head on with the Cost Analytics tab (one of the 4Cs of our dashboard philosophy).
CoreStack Platform also allows users to dig deeper by giving information on how resources are used by multiple users across various locations and cloud providers, resource usage information filtered by various criteria like location, tags, etc. and a quick snapshot view that provides an idea about what is happening on a quick glance. Our customers find Cost Analytics tool to be very useful and, when coupled with the recommendation engine of CoreStack platform, can provide significant cost savings.
Cost is an often overlooked aspect of multi cloud and, as we pointed out in our previous blog post, cost management can make or break your multi cloud strategy. With a platform like CoreStack, you are better positioned to optimize your multi cloud costs. Want to see how you can manage costs and save money with multi cloud? Sign up for a demo today.