Tracking and Managing Cloud Cost is major problem.
- More than 78% CTOs are not satisfied with the Cloud Cost Dashboards and Data that they get.
- More than 72% organizations are struggling to sort Cloud Cost Data Visibility
- 54% of organizations either do not have unit-economics, or are calculating them manually.
Let's face it, managing cloud costs can feel like navigating the Batcave – lots of tech, but if you don't have the right tools, it's easy to get lost in the dark. That's where FinOps comes in. But even Batman needs the right gadgets to be truly effective. Enter your Cloud Cost dashboard – a single place for cloud cost transparency.
3 Must-Haves for Your FinOps Dashboard, recommended directly by Batman -
1. Budget vs. Forecast vs. Actual Spend: Terrific Trio
Imagine a giant screen displays three lines – a projected budget (the good), a forecasted spend (the bad, may be, can be), and the actual expenditure (the ugly). This is the power of the Budget vs. Forecast vs. Actual Spend visualization. It lets you see, in real-time, how your cloud spending aligns with your plans. This trio will reveal potential dangers before your cloud bill throws a surprise at you.
2. Business Value Alignment: So that you can use the good old Pareto principle
Not all cloud costs are created equal. Your FinOps dashboard should show which costs directly contribute to what business value. It identifies the resources powering your most successful marketing campaigns or groundbreaking innovations. This intel allows you to strategically invest in the cloud services that drive real results.
3. Unit Economics: The devil is in details
Unit economics break down your cloud costs by individual units, like per user or per transaction. This granular view lets you identify areas for optimization, like underutilized resources or inefficient configurations. You can then jump in and make strategic adjustments to optimize your cloud spending.
Summary-
By incorporating these 3 features, your FinOps dashboard transforms from a simple display into a comprehensive FinOps Command Center. With these weapons at your disposal, you'll be a Finops Champion, ensuring your cloud empire thrives organically!
.svg)
