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Cost Management

Rationale#

We use Cost Management for controlling and optimizing our costs within AWS.

The main reasons why we chose it over other alternatives are:

  1. It is a core AWS service. Once one starts creating infrastructure, Cost Management begins to generate costs reports.
  2. It seamlessly integrates with all AWS services. giving fully accurate and granular reports.
  3. It provides highly customizable charts that allow us to group costs based on attributes like service, region, tags, linked account, among many others. Combining attributes is also possible.
  4. Charts support multiple time ranges that go from hourly to monthly granularity.
  5. Charts support multiple styles for readability.
  6. All the data used for generating charts can be exported for external use.
  7. It supports costs forecasting, allowing us to make predictions regarding future costs based on consumption during a specified timespan.
  8. It supports report generation, which allow us to create and save custom charts like Monthly costs by linked account.
  9. It supports cost allocation tags, allowing us to group costs based on tags assigned to resources.

Alternatives#

  1. GCP Cost Management: It is directly tied to GCP, meaning that in order to use it we would have to migrate.
  2. Azure Cloud Cost Management: It is directly tied to Azure, meaning that in order to use it we would have to migrate.

Usage#

We use Cost Management for:

  1. Constantly monitoring our AWS consumption.
  2. Grouping costs based on product tags.

We do not use Cost Management for:

  1. Managing costs using budgets. Our third party provider for AWS does this for us.
  2. Monitoring costs using Cost Anomaly. Pending to review.

Guidelines#

You can access the Cost Management console after authenticating on AWS.