What is AWS Cloud Economics? | Key Components [2024]
![Image](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhitU8WyJ3Bdhh1A2W9yhR9wV7Bq5ZUfc-cr31uckQiiqF_ns-muciIiuAAF47wQBqotvzXubdp-kBD_Yx004-91PyJXjDjnBxLme37Wsl93YKywAIwx-cD4TXJIQIUMSrlFAthl19jrbl8UxstjXcTwQ0T60inkVFdkExxA-dm7XUuFW2R7SQrT_LU8Es/w842-h473/www.visualpath.in%20(2).jpg)
Introduction to AWS Cloud Economics AWS Cloud Economics refers to businesses' strategic and analytical approach to understand, optimize, and justify the financial implications of migrating to and operating in the Amazon Web Services (AWS) cloud. It involves assessing the costs, benefits, and value proposition of AWS cloud services compared to traditional IT infrastructure. By leveraging AWS Cloud Economics, organisations can make informed decisions to maximise their return on investment (ROI) and enhance their overall business performance. AWS Data Engineer Training Key Components of AWS Cloud Economics 1. Cost Management and Optimization · Cost Transparency: AWS provides tools like AWS Cost Explorer and AWS Budgets that offer detailed insights into spending patterns. These tools help businesses understand where their money is going and identify areas for potential savings. · Resource Optimization: Services such as AWS Trusted Advisor and AWS Compute Optimizer ana