If you live and breathe FinOps in your daily work life, prepare to get excited. This month, we’ve got plenty to look forward to:
- An upcoming global FinOps X conference in beautiful, sunny San Diego
- Better cost anomaly detection from AWS
- Some welcome cost management updates from Microsoft
- An opportunity to share your expertise and help Microsoft redesign commitment-based savings plans
Read on for the details!
Top Cloud Cost News From May 2024
1. The FinOps Foundation announced the location and dates for the next FinOps X conference
Once a year, the FinOps Foundation hosts a three day “FinOps X” event that brings together more than a thousand people from around the world. The goal of FinOps X is to promote networking and collaboration across the globe as companies everywhere try to find the best ways to take control of their cloud costs and share what they’ve learned with others.
This year’s global conference is set for June 19 to 22 in San Diego, California. Book your spot now if you want to get in on the action!
Keep in mind, June’s FinOps X conference in San Diego is the premier global event, but it’s not your only opportunity to meet up with the FinOps community. If you’re in Europe — or if you’ll miss the conference this summer and you don’t mind hopping on a plane to catch the next one — there will be a smaller “FinOps X Europe” event in Barcelona from November 11 to 14.
2. AWS boasted a 30% faster detection rate for cloud cost anomalies
When your costs unexpectedly spike, time is of the essence. Ideally, you should try to correct the problem immediately, so that your next cloud bill isn’t unnecessarily high.
With that in mind, AWS has good news for users of AWS Cost Anomaly Detection. They’ve announced that customers have the ability to identify cost anomalies up to 30% faster than before, thanks to advanced machine learning algorithms and a thrice-daily analysis schedule. This means AWS customers can find problems quickly and get to work solving them before they snowball out of control.
As you’ve probably already assumed, AWS Cost Anomaly Detection only analyzes anomalies from within AWS. If you operate on another platform like Google’s GCP or Microsoft’s Azure, this update won’t help. And if your work happens across multiple platforms, you’ll still need to track cost anomalies from your other providers as well.
This is where CloudZero’s AI-powered anomaly detection can be a lifesaver, which uses hourly data to detect and flag abnormal spend events — letting engineers prevent overspending, stay within budget, and build efficient software.
3. Microsoft released a handful of new cost management updates
These days, most cloud users are concerned about how much they’re paying for cloud services. We can tell, because the major cloud providers appear to be listening to feedback and releasing updates that help their users manage costs.
For example, this is the latest list of cost management updates from Microsoft. The full page is worth skimming through if you’re an Azure customer and you want to stay on top of your cloud spend.
Some of the highlights include the release of new pricing information for several services, AI-enhanced Copilot cost calculators, and an announcement that daily and monthly cost charts will be coming soon.
4. Microsoft wants you to weigh in on commitment-based savings plans
Microsoft is conducting interviews with experienced managers of reservations and savings plans with an eye toward reducing costs for users. If you’re knowledgeable in these areas, you might want to apply for an interview to share your expertise and help guide the development of future cost management features.
Plan for a one-hour time commitment if you’re accepted.
You Have The Power To Take Control Of Your Cloud Costs
While it’s important to keep track of what the big FinOps movers and shakers are doing around the world, don’t feel like you have to wait for the major cloud providers to keep up with your cost management hopes and dreams. They can release major updates, or not — either way, you can be in total control over your own cloud costs by using CloudZero.
Whether you’re in AWS, GCP, Azure, all three at once, or something else entirely, it doesn’t matter. We put the tools and the data in your hands, so you can detect cost anomalies, identify areas for optimization, and track changes over time.
to see how CloudZero sets you free from your cloud cost worries.
The Cloud Cost Playbook
The step-by-step guide to cost maturity
