AWS Service: AWS Budgets
Question: How can AWS Budgets be used to monitor and optimize Reserved Instances and Savings Plans usage?
Answer:
AWS Budgets can be used to monitor and optimize the usage of Reserved Instances (RIs) and Savings Plans (SPs) in AWS. By setting up budgets for RI or SP usage, users can track and monitor the utilization of their commitments against actual usage, and receive alerts when usage is below or above certain thresholds. This can help users optimize their usage of RIs and SPs and ensure they are getting the most cost savings possible.
Users can also use the AWS Cost Explorer tool to analyze their RI and SP usage over time, and identify areas for optimization. The tool provides recommendations on how to modify RI or SP commitments based on historical usage patterns, and users can also manually adjust their commitments based on current and projected usage.
Additionally, AWS offers the EC2 Instance Savings Plan Recommendations feature, which analyzes a user’s EC2 usage and provides recommendations on how to purchase SPs to maximize savings. This feature is available within the AWS Cost Explorer and can be used to make more informed purchasing decisions.
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