Enterprises worldwide spent a record $34.6 billion on cloud services in 2020’s second quarter, up roughly 11 percent from the previous quarter and 30 percent from the same period last year, according to research firm Canalys.
What isn’t known is how much of that money was wasted due to poor planning, faulty execution, inadequate oversight and internal conflicts, among other causes. Maintaining firm control over cloud spend is essential to curbing waste, says Jimmy Pham, a principal specializing in DevOps, platforms as a service and containers as a service at business advisory firm Booz Allen Hamilton. “Gaining control over cloud spend can’t be a one-time effort,” he warns. “A combination of technology, operations and practices can help reduce spending waste.”
Are you ready to optimize your cloud investment? Here are seven ways to keep the cloud from unnecessarily squeezing your budget.
1. Target hidden waste
Cloud waste hides in many forms. “There are unused resources, like storage and … other computing resources,” says Tristan Morel L’Horset, North America cloud and infrastructure growth lead at consulting firm Accenture Technology Services. Another wasteful practice, he notes, is failing to cycle application environments, including development and testing areas, when not in use. Oversizing computing resources is another effective method for squandering money, although one that can be easily fixed. “As applications move to cloud, we can now truly size for only what we need and change as demand increases,” L’Horset explains.