Cloud Cost Optimization: Reducing Cloud Spend By Eliminating Waste And Operating Effectively

As customers are leveraging the flexibility and scalability of cloud technology and increasing their footprint on public cloud, overall spend in 2023 is set to increase by 21 percent to $592 billion. Simultaneously, executives worldwide are reporting and estimating wastage in their cloud spending. A Gartner survey* estimates an average of 35 percent wastage ranging from 15 percent (highly optimized environment) to 55 percent (no optimization in place).

Determining an organization's cloud cost optimization strategy requires gathering and analyzing the right data, bringing the appropriate experts to the table, and considering the overarching technology enablement of business strategy and operations.