Do You Know?

• 40% of the companies state cloud cost management as their primary challenge with public clouds.
• 61% of organizations plan to optimize existing use of the cloud for cost savings, making it the top initiative for the fifth year in a row.

Cost optimization aims to make resource utilization more efficient while reducing extra expenditure in Cloud. In this blog, we will see how we can achieve it with the help of Spot Instance and Graviton.

What is Spot Instance?

Launched in the latter part of 2009, Spot instances present an abundant avenue for patrons of Amazon Web Services (AWS) to procure Elastic Compute Cloud (EC2) instances, essentially virtual machines, at reduced expenses, thereby facilitating the hosting of their applications within the framework of AWS infrastructure.

How Spot Instance Works to Save Cost? 

Because spot instances are more affordable than on-demand ones, they lead to substantial savings. However, there are certain risks. For example, if spare EC2 instances (spot instances) aren’t available, you might need to wait until they become accessible in the spot market. Also, if the price of spot instances exceeds what you offered, they can be shut down with a two-minute warning. This abrupt termination can disrupt all processes in those instances, which can be particularly problematic if you’re running critical customer-facing services.

To avoid such issues, it’s crucial to have a solid strategy for managing spot instances. This ensures you have enough spot instances to run your applications and prevent sudden terminations smoothly.

Effective spot instance management not only prevents instances from going missing but also plays a crucial role in optimizing your AWS costs by allowing you to use spot instances at the lowest available price.

What is Graviton?

Graviton is the best price-performance processor designed by AWS for cloud workloads in EC2.

AWS Graviton2 processor helps majorly boost performance and capabilities over first-generation AWS Graviton processors. Moreover, AWS Graviton3 is the latest version of the AWS Graviton processors.

Why is Graviton cost-efficient?

It provides the best price performance for a broad range of workloads and offers extensive software support and assurance. Graviton processors also fulfil the need for advanced security for cloud applications and workloads. 

Not only this, but AWS Graviton processors also help firms to reduce their carbon footprint by being more energy efficient. Graviton-based instances utilize up to 60% less energy for a similar performance than comparable EC2 instances. Moreover, Graviton-based instances are also available in other popular Managed AWS Services.

Cloud Optimization Best Practices on AWS Cloud

Cost optimization in the AWS Cloud involves several best practices apart from spot instance and using Graviton to ensure efficient resource utilization and reduced expenses:

1. Right-size Resources: Choose instance types that match your workload requirements without overprovisioning. It would help if you considered using AWS tools to monitor and adjust instances based on demand.
2. Reserved Instances: Commit to long-term usage with reserved instances to obtain substantial cost savings compared to on-demand pricing.
3. Utilize Autoscaling: Implement autoscaling that helps dynamically adjust the number of instances based on real-time demand, avoiding underutilization during low traffic.
4. Implement Cost Allocation Tags: Assign meaningful tags to resources for accurate cost allocation, making it easier to track expenses across projects, teams, or departments.
5. Manage Storage Effectively: Delete unused data and consider using Amazon S3 storage classes optimized for infrequently accessed or archival data to reduce storage costs.
6. Optimize Data Transfer: Minimize data transfer costs by choosing the correct AWS region for your workload and optimizing data transfer patterns.
7. Use Cost Explorer: You can also use AWS Cost Explorer to gain insights into your spending patterns, identify cost-saving opportunities, and set budget thresholds.
8. Implement Serverless Architectures: Utilize AWS Lambda and other serverless services to eliminate the need to provision and manage infrastructure, paying only for actual usage.
9. Monitor and Analyze: Continuously monitor performance and usage metrics to identify idle resources, inefficient configurations, or opportunities to optimize.
10. Automate Workloads: Automate deployment and scaling processes using AWS CloudFormation or Infrastructure as Code (IaC) tools to ensure consistency and prevent unnecessary resource allocation.
11. Use Trusted Advisor: Leverage AWS Trusted Advisor to receive personalized cost optimization recommendations based on your usage and configuration patterns.
12. Consider Multi-Year Savings Plans: Explore AWS Savings Plans that offer flexible pricing options for different workloads and commitment terms.
13. Optimize Networking Costs: Use Amazon VPC peering, Direct Connect, or Global Accelerator to reduce data transfer costs and improve network performance.
14. Regularly Review and Adjust: Check your infrastructure needs and adjust as workloads change to maintain optimal cost efficiency.

Conclusion 

Amidst a spectrum of cost optimization practices for the Cloud, we’ve elaborated on the potent synergy between Graviton, AWS’s innovative processor, and Spot Instances, a dynamic AWS service. This integration offers substantial cost reduction opportunities within the AWS Cloud. If you find this blog informative, we encourage you to share it with your network, extending this knowledge to a broader audience. For further insights, feel free to contact us or explore our website.Post navigation

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What does Cloud Offer?

Experts saw the cloud as a way to achieve business continuity, but companies considered it a part of the future business expansion strategy. Early adopters were tech-savvy business segments and industry leaders who recognized the countless benefits of agile technology. This adoption increased their business efficiency, customer service, and overall profit, compelling others to consider it.

What are the Advantages of cloud computing technology?

Most leaders are now moving to the cloud, but if you still have certain inhibitions about it, here are some key benefits cloud computing offers that will add to your business profit and increase value.

1.    High-Speed Movement 
2.    Automatic Updates and Integration
3.    Increased Efficiency and Cost Reduction 
4.    Data Security
5.    Scalability
6.    Collaboration
7.    Mobility
8.    Disaster Recovery & Data Loss Prevention

 1. High-Speed Movement

Cloud tech allows users to spin new specs in seconds, empowering businesses to develop and try new ideas without infrastructural and process limitations.

2. Automatic Updates and Integration

It is easy to test new products, software and deploy the same in a cloud environment without wasting too much time. It enables high velocity of product innovation, feature integration, and service add-ons. Cloud computing software also has common tools that make it easier to detect production issues, if any.

3. Increased Efficiency and Cost Reduction

Since third-party service providers maintain cloud infrastructure, companies need not spend money on maintenance and onsite hardware. This reduces hardware, facilities, utilities & infrastructure purchase or maintenance costs. Cloud also cuts costs related to downtime, thus increasing efficiency.

4. Data Security

One of the major business concerns is data security. Data breaches cost companies revenues, customer loyalty, and brand reputation. Cloud solved the issue of data security by providing advanced security features that guarantee secure data storage and handling. Features like granular permissions, access management, and implementation of baseline protections such as authentication, access control, and encryption reduce the attack surface. Other security add-ons also supplement these features to tighten data protection and security.

5. Scalability

Different businesses have different IT needs, and using the cloud enables businesses of different sizes & shapes to scale up/down departments and business efficiency accordingly. It is ideal for businesses with fluctuating needs or constant demand without increasing financial spending on infrastructural development. Agility also provides a competitive edge and scalability without infrastructural limitations, increasing overall business performance and profit.

6. Collaboration

Cloud tech is known for enabling collaboration between varied teams operating from different geographical locations and time zones. Teams can operate parallelly without interference, increasing transparency and reducing conflicts.

7. Mobility

Cloud computing technology can be accessed from any smart device, enhancing team and business mobility. Teams can not only operate from different locations but can also connect with clients & customers instantly.

8. Disaster Recovery & Data Loss Prevention

Loss of data in any situation can prove to be a business hazard. With constant data sync and availability at different cloud locations, data recovery in case of any natural disaster is easy. It also helps with data loss in human error or natural disaster scenarios.

What are the Disadvantages of cloud computing technology?

While we talk about the advantages of cloud computing, it comes with certain limitations. A few of them are listed below:

Limitations of cloud computing – 

1.    Internet availability & connectivity
2.    Vendor lock-in
3.    Limited Control
4.    Security

1. Internet availability & connectivity

Cloud technology is internet dependent as every data is stored in the cloud, and access is possible through internet connectivity. There is no other way to operate cloud computing technologies.

2. Vendor lock-in

Vendor lock-in is also a major concern for cloud computing users. Changing vendors can be problematic as different vendors use different platforms and make data transfer an issue.

3. Limited control

Although vendors provide complete system access and data control to users, there is minimal control over function and execution in a cloud infrastructure as vendors completely manage it.

4. Security

Cloud technology is known for providing the best security but is not hackproof. Every data shared is stored in an external space and is managed by third-party service providers. This transfer and management of data make it prone to hacks.

Why Cloud Computing Is the Future

It is a fact that not every enterprise finds cloud trustworthy and is contemplating the need to switch. However, circumstances like Covid-19 proved the importance of cloud tech in the business segment globally. Today, cloud computing adoption is at its peak. Enterprises have understood the benefits of adopting cloud tech and agility and know that it is the only way as we advance.

While every technology comes with certain limitations, the advantages outweigh them. So yes, the cloud benefits advertised by cloud consulting providers may help your business a great deal in keeping your business afloat & reaching your target audience easily.

Further Reading:

•    Why Cloud Cost Optimization Should Be A Business Priority
•    The Growing Demand For Cloud Computing Professionals
•    The Future Of Cloud Computing: Top 10 Trends CIOs Should Know

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