What is the purpose of a cost parameter in cloud computing? Introduction to Cloud Cost Management Cloud Cost Management is the idea of managing your cloud expenses efficiently. It includes understanding the costs related to your cloud, removing the unnecessary ones. It means finding the most cost-effective ways to maximize your usage at the lowest price possible. It involves managing memory, storage, network traffic, instances, and several other expenses. There are no shortcuts when it comes to managing costs in this arena. You have to make proper plans, get the basics right, and involve your staff to ensure they understand its importance. There can be multiple reasons why you must know what it is and how to get it right. In this article, we will discuss cloud cost management and have a look at why most are failing at it. Let’s fasten your seatbelts. Why do we need Cloud Cost Management? For anything decentralized, cost management can be a headache. More often than not
