Cost Management Strategies in Cloud Computing: Tools, Techniques, and Case Studies

Abstract

Effective cloud cost management is essential for organizations to maximize their cloud investments and avoid overspending in dynamic cloud environments. This paper explores various strategies for managing cloud costs, including cost allocation and budgeting techniques, optimization strategies like Reserved Instances and spot instances, and the use of both native and third-party tools. Through case studies of an enterprise, a small-to-medium business (SMB), and a startup, the paper highlights the challenges faced and the solutions implemented to achieve cost efficiency. Key insights and best practices are provided to guide organizations in controlling their cloud expenditures and enhancing financial performance.