If you are a start-up or small business running your operations on Amazon Web Services (AWS), you know how quickly costs can spiral out of control. In this article, we mention different techniques to reduce your AWS cost.
You implement a few changes and achieve a 50% reduction in AWS costs. Here is a breakdown of how you can do it:
1) We didn't Optimize the Cost way too Early:
Many organizations make mistakes of focusing on optimizing costs from the very beginning without taking into account their growth trajectory. We waited until we had reached a certain level of scale before we started to look at ways to reduce our AWS costs.
2) We prioritized our list and worked on the biggest wins first
There's no point in optimizing costs for something that will only save you a few bucks. We looked at our biggest cost items and worked our way down.
3) We ensured our resources were sized correctly
One of the biggest mistakes you can make is to over-provision your resources. Not only will this cost you more, but it can also lead to performance issues. We made sure that our resources were sized correctly for our needs.
4) Implemented S3 lifecycle policies
S3 lifecycle policies can help you reduce costs by automatically deleting or moving no longer-needed data. We implemented S3 lifecycle policies to optimize our storage costs.
5) Autoscaling to reduce costs
Autoscaling allowed us to scale our applications up or down based on demand. This saved us money on compute costs when demand was low.
6) EC2 or Fargate Spot for heavy workloads
We used EC2 or Fargate Spot instances for our most compute-intensive workloads. This saved us up to 90% on compute costs.
AWS cost optimization is a process of reducing your AWS costs without compromising the performance or availability of your applications. There are many ways to optimize your AWS costs, and the best approach depends on your specific needs and workloads. The strategies mentioned earlier were the most effective in reducing our AWS costs.