Google Guide on Cost Forecasting Inside
GCP Forecasting guidelines, Azure Cost Updates and great articles about energy and greenwashing. All you can digest in today's edition.
Victor Garcia
August 25, 2024
In partnership with
What happened this week:
GCP Guide on Cloud Cost Forecasting
Great Articles related to Energy and Greenwashing
Mention of Honour to a Paper related to FinOps
Job Offers
Professional Spotlight with a writer you should follow.
I even have something on my own writing. Brace yourself:
Forecasting
Essential Guide to Forecast Cloud Costs
Forecasting helps companies manage their cloud spending. Lucky us, the Google Cloud FinOps Team provided us with guidelines on how to do forecasting in the Cloud. Let's explore its essentials and strategies:
Predicting Cloud Spend
Combines trend-based and driver-based methods.
Uses statistical and predictive analytics techniques.
Key Challenges
Real-time spend insights are often lacking.
Tools for financial planning are outdated.
Costs can shift from fixed to variable.
Forecasting Methods
Business value-based forecasts new workloads.
Trend-based uses past data for patterns.
Driver-based considers seasonality and external factors.
Implementation Strategies
Decide on cost granularity early on.
Use labels, tags, and folder structures.
Define forecasting methods and establish feedback loops.
Leveraging Technology
Use anomaly detection for precise cost tracking.
Adapt forecasting methods based on changing data.
Forecasting is one of the most difficult tasks in FinOps, yet one of the most valuable. If you master forecasting, you’ll be a diamond for any company.
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In an industry filled with security theater vendors, Oneleet is the only security-first compliance platform that provides an “all in one” solution for SOC 2.
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Azure
Azure Cost Updates in July: New Formats & Pricing
It's time to get into the latest updates from Microsoft Cost Management for July 2024. Let's see what's new:
Exports Improvements
Now supports the Parquet file format, offering file compression for smaller file sizes. Enables easier data handling with Fabric ingestion.
Pricing Updates
Changes are coming to Azure.com pricing. Aims to simplify costing estimates for users. You should check that, as several services related to AI, databases, and computing have been updated.
Documentation Refresh
New guides for integrating cost data with Microsoft Fabric and step-by-step instructions to enhance your analytics.
Stay on top of your budgets with these updates!
Cloud Security
Massive Cyber Attack On AWS Targets 230 M Unique Cloud Environments
A massive cyber attack has hit Amazon Web Services (AWS), affecting 230 million cloud environments. Here’s what happened:
Researchers found hackers targeting cloud infrastructures’ .env files. The attack covered 110,000 domains with 230 million endpoints. These files included confidential data, like access codes. Hackers used this data to break into many systems. Automated tools scanned millions of domains.
Hackers made new IAM roles with admin rights. They used AWS services to spread through networks. After getting data, attackers uploaded ransom notes.
Take care of your .env files!
GreenOps
Exposing Greenwashing via Unbundled RECs in Big Tech
Greenwashing is making a splash in today's discussions! Here's what you need to know about this tricky tactic that companies use to make themselves look more eco-friendly than they actually are.
Common Tactic: Unbundled RECs. Unbundled RECs are Renewable Energy Certificates. Companies buy these without using real green energy. They're cheap and easy to buy. Don’t guarantee actual renewable energy use. It prevents real environmental progress, and consumers are misled about sustainability.
Big Names are involved, as Amazon uses many unbundled RECs. This hides their true carbon emissions. Potential solutions are improved regulations and stricter audit systems and greater awareness and informed consumer choices.
Let's stay sharp and informed against greenwashing!
Energy
AI & Nuclear Power Unite
Exploring the push for nuclear energy in AI-driven data centers, major players are considering how to power a technology-intensive future. Big names like Microsoft, Google, and AWS eye nuclear solutions. They need more power for AI and data centers. AWS bought a $650 million nuclear-powered data center.
Nuclear power could meet AI's high energy demands, as energy needs for AI are rising rapidly. Smaller nuclear reactors could power future data centers. However, the nuclear strategy isn't without challenges and risks, as nuclear power faces issues like waste management. Moreover, regulatory approvals for nuclear projects are pending.
Developer Lifecycle
What is DevFinOps?
I collaborated with Turbo360 to shine a light on DevFinOps. This practice is transforming how companies handle costs in development and operations, especially in cloud environments.
It combines development, finance, and operations, and aligns software development with financial goals. This practice improves cost visibility and management by enhancing collaboration across teams, resulting in a faster software delivery and quality.
Mention of Honour Special
Deserved for recent discoveries that are inspiring for the FinOps community.
🎖️ Mention of Honour
Paper: Cloud FinOps Strategies for cost-effective cloud management
Dr. Ajay Gaikwad shared strategies for managing cloud costs in an interesting publication he shared on LinkedIn. Here are the key insights:
Cloud Cost Optimization: The research highlights various strategies for optimizing cloud costs, including resource allocation, pricing analysis, and real-world case studies demonstrating significant expense savings.
Challenges and Solutions: It discusses challenges like poor resource utilization and complex pricing systems, offering solutions such as automation, real-time monitoring, and resource optimization.
Best Practices: Emphasizes the importance of collaborative approaches, stakeholder involvement, and continuous improvement for effective Cloud FinOps.
References: The document includes numerous references to previous studies and frameworks related to cloud cost management and optimization.
Access the complete article in the button below.
Jobs
👩🏭 FinOps Job offers
I'll find both Permanent links (i.e. FinOps Job site) and Offers on the internet.
Professional Spotlight
Benjamin Van der Maas
Great FinOps writer, and one of my inspirations to make this newsletter. Always sharing good stuff on his blog and on LinkedIn, Benjamin is a must-follow if you are interested in this field.
Bonus
🏆️ Quick Wins
For those seeking more content, this section will provide additional resources.
Announcements
AWS Conditional requests enhance S3 operations security to solve the major issue regarding cost that happens months ago.
Articles
Move workloads to Sweden for low-cost, low-carbon? Great post by Jeremy on how important is location for emissions
Why Reducing Cloud Costs Doesn’t Solve the Problem but Entrenches It by Shahar.
5 Reinvestment Opportunities to Put Your Cloud Cost Savings to Work
Podcasts & Events
Feedback
🗳️ Poll of the Week
🌟 Rate this Newsletter Issue 🌟 |
That’s all for this week. See you next Sunday!
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