AWS Service: AWS Budgets
Question: How can budget forecasts be generated in AWS Budgets and what factors are taken into account?
Answer:
In AWS Budgets, you can create a forecast of your estimated costs for the upcoming months based on your historical usage and cost data. AWS Budgets uses machine learning algorithms to analyze your usage and cost trends and project future costs. The forecast takes into account various factors such as past usage patterns, seasonal fluctuations, and new services that you plan to use in the future.
To create a forecast, you can set a forecast period and specify the duration of the period, such as one month, two months, or a quarter. AWS Budgets will then generate a forecast for the selected period and display it in a graph or table format. You can also adjust the forecast by adding or removing specific costs, changing usage patterns, or modifying service configurations. This allows you to experiment with different scenarios and evaluate their impact on your budget.
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