FinOps and the Denodo Platform: How To Optimize Cloud Data Costs

In recent years, the IT world has been steadily moving to the cloud. Many companies have migrated their data to the cloud, convinced that this step could have a substantial impact on managing costs. This, however, is an illusion, and once it vanishes, people realize that although cloud infrastructure can be very flexible, costs can be highly variable. The word “scalable” often comes up in relation to the cloud, but how easy is it to predict the impact of scalability on costs? In this way, the cloud has driven a full collaboration between finance and operations (FinOps), to predict as precisely as possible how much IT management will spend.

Financial management tools are not always able to adapt to the logic of the cloud, and many companies operate systems designed for on-premises repositories, which prevents them from understanding exactly what value is obtained from cloud investments. But they understand the need to increase their ability to forecast and optimize spending to manage this complex situation and ensure the economic sustainability of cloud IT environments.

To fully monitor and optimize hybrid and multi-cloud information systems and rationalize spending on cloud services, which are fundamental for IT management planning, companies are adopting cost optimization strategies based on actual consumption and the continuous monitoring of consumption, services, and users.

Read more in https://www.datavirtualizationblog.com. Originally published on December 7, 2023.