AWS cost optimization pillar details are mentioned below.
1. Right Sizing:
- Select the right instance for your performance requirements.
- Look at your instances memory, CPU, Network etc.. to indentify the instances which can be downsized.
- Use Cloud watch to track metrics and setup alarms to react dynamically.
- Ensue you provision resources based on your project demand.
2. Increasing Elasticity:
- You can optimize cost to meet dynamic needs using Autoscaling feature and turn resources off when they are not needed.
- Use AWS instance Scheduler service to schedule the EC2 instances based on requirement. Eg: You can turn off test/Dev instances on off business hours.
- Enforce tagging strategy for better visulization.
3. Chosse the right pricing model:
- Choose the right pricing model to optimize your costs based on the type of workload. Eg: Reserved, Ondemand and Spot types.
- Use cost explorer and trusted advisor to verify the cost pattern and recommendations on cost optimization.
4. Optimize Storage:
- AWS provides multiple storage tiers and pricing designed to meet performance. By identifying the most appropriate storage for specific types of data can reduce your expnses.
Eg: S3, EBS, EFS, Storage Gateway.
5. Measure and Monitor:
- Monitor your environment using AWS Cloudwatch, Cost explorer and AWS trustedAdvisor.
- Define metrics, set targets, enforce tagging and cost allocation tagging and review them regulalrly.