Have You Tried Forecasting to get your Cloud Costs Under Control?

In today's rapidly evolving business landscape, organizations are increasingly relying on cloud computing to enhance flexibility, scalability, and efficiency. However, with the growing complexity of cloud infrastructures and the dynamic nature of market events, managing and optimizing cloud costs has become a significant challenge.

This is where dynamic forecasting emerges as a way to quickly save millions of dollars, and Tangent by Tangent Works steps in as a game-changer with its real-time model building capabilities and advanced feature engineering.

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The Importance of Forecasting in Cloud Cost optimization

Effective management of cloud resources is not just an operational necessity but a strategic asset. The role of forecasting in cloud cost optimization cannot be overstated, offering a proactive approach to managing expenses while enhancing overall performance. Here’s a closer look at why forecasting is critical in optimizing cloud costs and driving business success:

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1. Cost Predictability

Forecasting on internal and external time-series data, which we call drivers, enables organizations to anticipate future resource usage and demand patterns. This predictive insight helps in planning and budgeting, allowing businesses to allocate resources efficiently and avoid unexpected spikes in cloud usage.

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2. Optimized Resource Allocation

Understanding future requirements allows for better resource allocation and planning. By forecasting cloud usage, organizations can provision resources based on demand, preventing over-provisioning and thereby optimizing your AWS or Azure bill.

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3. Business Agility

Accurate forecasting empowers businesses to respond quickly to changing market conditions and scale their cloud resources accordingly. This agility is crucial in today's competitive landscape, where adaptability is synonymous with success.

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4. Performance Optimization

Forecasting doesn't just predict costs; it can also highlight performance bottlenecks and areas for improvement. By identifying potential issues in advance, organizations can proactively optimize their cloud infrastructure for better efficiency.

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Meet Tangent by Tangent Works

Tangent is the most advanced forecasting solution bringing unparalleled automation, scalability, agility and explainability. Here's how Tangent plays a pivotal role in helping organizations get their cloud costs under control:

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1. Real-time Model Building

Tangent distinguishes itself by offering real-time model building capabilities. Traditional forecasting models often require extensive historical data and manual intervention. Tangent, on the other hand, leverages advanced algorithms to build models on the fly, adapting to changing patterns and ensuring up-to-the-minute accuracy.

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2. Automatic Feature Engineering

One of Tangent's key strengths lies in its ability to automatically engineer and select features. This means that the platform identifies relevant variables impacting cloud costs without manual input. This automation streamlines the forecasting process, saving time and ensuring that critical factors are always considered.

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3. Pattern Recognition in Market Events

Tangent goes beyond basic forecasting by excelling in complex pattern recognition. It can analyze market events and their impact on cloud infrastructure costs, allowing organizations to make data-driven decisions in response to market dynamics.

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4. Predictive Insights for Increased Business Agility

Tangent’s unique approach to feature engineering results in explainable forecasts empowering businesses to understand the impact of changing situations and swiftly adapt to them. This increased agility is a game-changer in the fast-paced digital landscape, helping organizations stay ahead of the competition.

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Conclusion

Forecasting is a no-brainer for organizations looking to optimize their AWS or Azure bill. By accurately forecasting cloud costs and optimizing resource allocation, Tangent contributes to substantial cost savings. As businesses navigate the complexities of the cloud, Tangent emerges as a valuable ally, ensuring that cloud costs are not just controlled but optimized for maximum efficiency and competitiveness.

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Do you want to learn how Tangent can help you get your cloud costs under control?

Book a free demo today!

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Article by Sam Verdonck, Chief Growth Officer at Tangent Works

Connect with Sam on LinkedIn!    

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