Perform Regular Audits:
Review cloud usage regularly to identify underutilized resources and reduce waste.
Auto-scaling:
Set up auto-scaling for compute instances to handle peak demand without paying for unused capacity.
Right-size Instances:
Adjust the size of your cloud resources based on actual usage rather than estimated needs.
Leverage Reserved Instances (RIs):
Purchase reserved instances for predictable workloads to lower long-term costs.
Storage Optimization:
Move infrequently accessed data to cheaper storage tiers (cold storage or archival options).
Consolidate Workloads:
Group similar workloads to optimize resource usage.
Monitor Spending in Real Time:
Use cost-tracking tools to monitor and control your cloud expenses as they happen.
Use Serverless Architectures:
Serverless computing can reduce costs for applications with variable workloads.