What are the most effective FinOps strategies for reducing hidden cloud costs in 2024?

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We faced the same issue and solved it by implementing a strict "Tag or Terminate" policy. Every resource must have tags for 'Owner', 'Environment', and 'Cost-Center'. We also started using Spot Instances for our non-production environments, which saved us nearly 60% on compute. I highly recommend looking into the FinOps Foundation's "Inform, Optimize, Operate" phases. It’s not just about tools; it’s a culture shift where developers take accountability for the costs of the code they deploy.

   Answered 2024-02-15 by Linda Garcia

Are you currently utilizing any automated tools like AWS Trusted Advisor or third-party platforms like CloudHealth to identify your unattached EBS volumes and idle Elastic IPs?

   Answered 2024-02-20 by James Smith

• James, we just started with Trusted Advisor. It found over $2,000 a month in idle snapshots alone! The next step for us is automating the cleanup of those orphaned resources using Lambda scripts.

     Commented 2024-02-25 by Christopher Lee

Right-sizing is your best friend. Most developers over-provision instances "just in case." Use Compute Optimizer to find where you can downsize without hitting performance bottlenecks.

   Answered 2024-03-10 by Patricia Moore

• Spot on, Patricia. We found that 70% of our dev instances were running at less than 5% CPU utilization. Downsizing them was an instant win.

     Commented 2024-03-12 by David Wilson