Cost visibility is the first step to managing and forecasting cloud costs. But before you splurge on a Kubernetes cost monitoring solution, make sure that it includes these three crucial metrics.
Picking the right cost monitoring areas to focus on makes a difference in how you budget for the cloud and investigate cost spikes. Here are three metrics that help teams meet their FinOps goals.
To keep cloud expenses in check, you need to have all the data at hand to easily extrapolate your daily or weekly expenses into your monthly bill. The daily spend report helps to do just that.
Suppose you have a budget of $1,000 per month. You should be able to check whether you’re still running under the budget or at least in line with it. If your average daily spend is closer to $50 than c. $33 (30 days x $33 = $990), you’re likely to end up with a higher cloud bill than expected.
Another benefit of the daily cloud costs report is that it allows you to identify outliers in your usage or spend. You can verify how much you’ve spent each day for the last two weeks and double-check that data for any outliers or cost spikes that might lead to cloud waste.