Cloud Computing — Cloud Cost Management

Managing cloud costs is essential to prevent overspending. Since cloud resources are billed based on usage, organizations must monitor and optimize their consumption. Key cost management strategies include setting budgets, using cost monitoring tools, and rightsizing resources (matching resources to actual workload needs). Many cloud providers, like AWS and Azure, offer built-in tools to track spending and identify wasted resources. Implementing auto-scaling and turning off unused resources during non-peak hours can significantly reduce costs.

Example: A company uses AWS Cost Explorer to track expenses and set alerts when costs exceed a certain limit.