Cloud Cost Optimization - Top Approaches and Maestro Solutions
Managing cloud costs effectively becomes increasingly important, as cloud services usage grows, with public cloud spending expected to reach $805 billion by 2025. Cloud cost optimization involves controlling spending to maximize efficiency and value from investments. The Flexera 2024 State of the Cloud Report shows that 75% of organizations report increased cloud waste, with about 32% of budgets underutilized. This highlights challenges in visibility and resource management. Adopting best practices in cloud cost management is vital for companies to efficiently streamline and control their cloud expenses. In this blog post, we would like to summarize the recent Top Cloud Cost Optimization Best Practices article, and highlight how Maestro, and the tools it is integrated with, help with the challenge. What is Cloud Cost Optimization? Cloud cost optimization is the practice of reducing overall cloud spending by identifying mismanaged resources, eliminating waste, and efficiently all...