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New Cost Explorer Enables Companies to Better Track and Analyze Cloud Spending

According to InfoWorld, Amazon has just released a new service known as the Cost Explorer, with the goal of enabling organizations to more easily view and analyze their spending using Amazon's hosted cloud services. Amazon Web Services have, in the past, been criticized for the difficulty involved with tracking and projecting cloud costs. It seems that the industry giant was listening, because the new tool is likely to be a big hit with current users.

The Concept of Cloud Computing

To assist users, the Cost Explorer, which is free, will come with several preconfigured reports that can help make clear the totals of daily spending, the monthly spending for each service, and more. Cost Explorer allows users to create customized filters for cost analysis based on services, tags, time period and accounts. Cost Explorer is capable of analyzing data for the current month as well as the previous four months of available data.

According to a recent study by RightScale, about 94% of companies now use cloud technology in some capacity. However, there is a wide variety of adoption levels when it comes to deployment. Keeping the cost of cloud services under control can be difficult for companies that use it for a large range of capabilities.

Amazon seems to have hit the mark when it comes to addressing these concerns. "Cost management continues to be one of the top pain points we hear from the AWS customers we speak to," says Izzy Azeri, co-founder of Stackdriver, a company that offers Amazon monitoring solutions. "Based on the description to do granular filtering and event based cost analysis, I think this can be very compelling to customers," he adds.

Over time, Amazon plans to add even more preconfigured reports in order to further enable users and administrators to track projects and key areas for spending reports.
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Wednesday, 05 October 2022
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