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Manage AWS Costs with Spot Instances: How IG CloudOps Can Help

Managing AWS costs is a top priority for teams using AWS, or it very quickly becomes so. While there are various strategies available, one cost-saving option is the use of Spot Instances.

AWS Cost Audit

In this blog post, we will explore the benefits of Spot Instances and discuss how IG CloudOps can provide valuable advice on leveraging different options for cost optimisation. Additionally, we will delve into how IG CloudOps' cloud management software, CloudOps, can streamline and enhance your AWS cost management efforts.

NOTE: Just remember with all of this that it only applies to virtual machines (VM) (EC2 in AWS language)


Understanding Spot Instances:

Spot Instances offer significant cost savings by allowing you to bid on unused AWS EC2 instances. By accessing the excess capacity in the AWS cloud, you can obtain compute resources at a fraction of the cost compared to On-Demand or Reserved Instances.

However, Spot Instances come with tradeoffs, such as the possibility of interruption if the spot price exceeds your bid. IG CloudOps can guide you in understanding the intricacies of Spot Instances and help you design a cost-effective architecture.

(Note the downside, it does happen and it's a big one but CloudOps can help you auto-recover)


IG CloudOps' Expert Advice:

When managing AWS costs effectively is important, IG CloudOps stands out as a reliable partner. Our team of experienced AWS professionals can provide valuable advice on various Spot Instance strategies, including:

Spot Instance Pricing Analysis: In order to assist you choose the best bid prices and create cost-effective spot instance strategies suited to your particular workload requirements, IG CloudOps can analyse past pricing data.

Spot Fleet Optimisation: With IG CloudOps, you can optimise your Spot Fleet configuration to balance cost efficiency, availability, and performance.

This allows you to be more efficient but it's a bit of a headache the first few times you use it until you have the experience like our AWS team does. It's easier to think of this being a bit like containers and you need a specific use case for it to make sense.

Hybrid Instance Management: You may build hybrid environments by combining Spot Instances with other instance types like On-Demand or Reserved Instances with the aid of IG CloudOps. The most suitable instance types are used in this strategy to enable flexibility and cost optimisation for various workloads.


CloudOps - Simplifying Cost Management:

IG CloudOps offers CloudOps, a powerful cloud management platform designed to simplify AWS cost management. This software provides a range of features to optimize your AWS spending, including:

Cost Visibility and Reporting: CloudOps provides detailed insights into your AWS costs, allowing you to track and analyze your spending patterns. With customizable reports and dashboards, you can gain visibility into resource utilization and identify areas for optimization.

Cost Allocation and Budgeting: CloudOps enables you to allocate costs to different teams or projects, facilitating granular cost tracking and accountability. By setting budgets and receiving proactive alerts, you can stay informed about your AWS spending and take proactive measures to control costs.

Automation and Optimization: CloudOps automates cost optimisation practices, such as rightsising underutilized resources and managing Spot Instances effectively. You can maximise cost savings and ensure efficient resource allocation by leveraging intelligent automation.

Effectively managing AWS costs is crucial for the long-term viability of the cloud as an option for your business. Spot Instances can provide significant cost savings, and IG CloudOps can be your trusted partner in managing and making the cloud work for your business.

With our expertise and guidance on Spot Instance implementation, combined with the power of CloudOps, you can streamline your AWS cost management efforts, achieve greater cost efficiency, and ultimately make the AWS cloud a viable platform for your business. If you want to find out more then speak to us today.

Or if you want to find out more about CloudOps then book a test drive and see how our cloud management platform can make your life easier.

You might also be interested in:

Reduce AWS spend: AWS cost optimization is a long-term process, not a one-off

Stop your AWS costs rising with AWS management services

AWS Architecture: Why an AWS architect is unable to fix your cost and performance issues long term

How to Achieve AWS Cost Optimisation to Ensure You’re Getting Value for Money 

Why Monitoring Reduces AWS Costs and Maintain Performance