Here is a detailed summary of the video transcription in markdown format with sections and single-level bullet points:
Key Takeaways
- Your Cloud bill is a function of how many engineers your company has hired, not just what you use
- Effective cloud financial management can help you achieve cost efficiency, improve profitability, and reduce business risk
Understanding Your Cloud Costs
Normalizing Cost Data Across Providers
- Use the finops open cost and usage specification (FOCUS) to standardize your cost and usage data
- FOCUS 1.0 with AWS columns provides a consistent data format for analysis
Maintaining a Holistic Overview
- Use the AWS Billing & Cost Management console to access key metrics and alerts
- Leverage AWS Cost Anomaly Detection to identify and analyze anomalous spending
Empowering Users with Cost Visibility
- Utilize IAM permissions to provide users with the right level of cost visibility and access
- Use Cost Explorer to analyze costs at a granular level and identify optimization opportunities
Identifying Idle Resources
- AWS Cost Optimization Hub provides idle resource detection and cleanup recommendations
Building Effective Cost Reporting
Enabling Custom Dashboards
- Use the one-click deployment for the Cost and Usage dashboard in Data Exports
- Leverage the Cloud Intelligence Dashboard framework for advanced insights and recommendations
Aggregating Costs Across Organizations
- Use Data Exports to automate the creation of cost and usage reports in a centralized account
Implementing Showback and Chargeback
- Use AWS Billing Conductor to group accounts, configure pricing rules, and delegate cost management
- Leverage AWS Invoice Configuration to receive separate invoices for business entities
Optimizing Cost Allocation
- Use Cost Categories to group and aggregate costs based on rules, rather than just tags
- Leverage Split Cost Allocation Data (SCAD) for container services like ECS and EKS
Improving Cost Estimation and Planning
Engaging Early in the Design Process
- Incorporate cost considerations throughout the software design and business planning cycles
Leveraging the Enhanced AWS Pricing Calculator
- Import existing usage data and model potential changes to workloads and purchase options
- Analyze the cost impact of modifications and new commitments
Optimizing Savings Plans Purchases
- Use the Savings Plans Purchase Analyzer to model different hourly commitment amounts and their impact
- Leverage the 7-day return policy to adjust Savings Plans purchases as needed
Resources
- AWS Cloud Financial Management digital training courses
- Engage with AWS CFM experts at the AWS Village Expo