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Effective cloud cost management is a critical component in the modern-day cloud strategy. As organizations are increasingly adopting cloud services across multiple cloud providers, it is essential for managing cloud costs. Each of the clouds offers native cost management tools like AWS Cost Explorer, Azure Cost Management, and GCP Cost Tools.
These solutions are often limited to their respective ecosystems only. However, these are often limited to their specific ecosystems. CloudPi emerges as a comprehensive third-party solution that excels in multi-cloud cost management. We will look into the details of why CloudPi can be your best solution for cost management.
Overview of Cloud Cost Management
Cloud cost management refers to the process of analyzing and optimizing a company's cloud usage to minimize its expenses. However, maintaining expenses does not mean lagging on performance or negating essential cloud infrastructures. It serves as a middle ground to scale up or down a specific cloud service as per requirements.
A generalized view of the features of the tools that provide effective cloud cost optimization are:
Visibility of cloud resource usage and understanding of how to maximize budget savings.
Allocating costs and budgets for different departments or usage limits to minimize cloud overspend.
Prediction of the costs for this month or the upcoming month is a common feature to expect in all the tools.
Recommendations to optimize cloud usage are yet another feature that needs to be checked to reduce the cloud budget.
You might have seen some of these features almost overlap with the existing cloud cost management tools. Some tools like AWS, GCP, or Microsoft Azure Cloud are some of the key players in the market, yet they lack some features. Here, we will compare the multi-cloud cost management between these tools and CloudPi.
Comparing CloudPi and AWS Cost Explorer
AWS cost explorer is helpful for managing cloud costs within the AWS ecosystem or cloud bundle. It provides the following advantages:
Cost forecasting is one of the features that helps you get an idea of your cloud spending.
Provides simple insights into optimizing the cloud resources.
It also provides simple suggestions for the optimization of the cloud resources.
CloudPi provides some advantages to the AWS Cost Explorer; they are:
Multi-Cloud visibility into the across several cloud providers.
CloudPi provides AI-based recommendations based on data utilization to provide information across several cloud providers.
CloudPi can also automatically adjust the cloud resources and provide real-time usage-based recommendations to the client.
Thus, in our CloudPi vs AWS Cost Explorer, you can see the advantages of using it for your business.
CloudPi Compared to Microsoft Azure Cost Management Tools
Microsoft Azure is a convenient solution for tracking and optimizing costs within Azure. This allows businesses to allocate cloud resources across several departments. Some of the key strengths that it provides are:
Provides integrated Azure insights to specific services and helps businesses manage their costs. Please note this is not a multi-cloud service but is specific to the Azure ecosystem.
Department-wise cost breakdown and cloud budget allocation provide detailed insights into usage breakdowns.
Optimization of virtual machines and utilization of the reserved instances are also provided to users as recommendations.
CloudPi, on the other hand, provides some advantages over cloud cost management they are:
CloudPi offers multiple cloud accesses across several cloud providers.
Simplified user-friendly interface for simplif