As businesses move more computing resources to the cloud, cloud cost management has become critical to successful IT operations. Industry experts say that properly managing cloud spend can reduce expenses on cloud providers like Amazon Web services (AWS), Microsoft Azure and Google Cloud Platform expenses by about 30%.
According to the 2018 Right Scale State of the cloud report, an estimated 30-35% of cloud spend is wasted from an annual spend of $30bn. The main cause of cloud cost wastage is over configuration, non-usage or idle status and accumulation of outdated data like snapshots, report and log files. So, saving money on their cloud bills is now a top priority and cloud users are focussing now cloud cost optimization.