AWS Pricing Discussion

 Hey!

Today's agenda is to go through AWS pricing in a nutshell. I will keep it simple, and this blog highlights the key features of AWS Pricing and key principles that needs to be followed to come up with the cost effective estimate.

AWS Pricing

The fascinating and attractive feature of the pricing model is "Pay-as-you-go" approach. You only pay for the services you consume and once you terminate and stop using them, you are no longer billed. Isn't it amazing? When you need services, ask for it, pay for it and when longer needed terminate them and have a cup of tea, haha. So flexible!

How do you pay to AWS?

  1. Pay-as-you-go
  • Organization can easily adapt to business changes.
  • No need of guessing the capacity in prior, reduces the risk of overprovisioning and missing capacity.
  • No over-committing budgets.
  • Improve responsiveness to changes in the business.
      2. Save when you commit
          For 🠊 AWS Compute
                 ðŸ Š AWS Machine Learning
  •  AWS offers Savings Plans that offers savings over On-Demand.
  • In exchange for a commitment to use a specific amount (measured in $/hour) of an AWS service or a category of services, for a one or three-year period.
     3. Pay less by using more
  • Get volume based discounts and realize important savings as your usage increases.
Key Principles
  1. Understand the fundamentals of pricing.
          Key Drivers 🠊 Compute
                               ðŸ Š Storage
                               ðŸ Š Outbound data transfer
          Note: The more data you transfer, the less you pay per GB.
   
      2. Start early with cost optimization.
  • Choose the right pricing model for compute.
  • Use RI to reduce RDS, EC2 costs.
  • Use Amazon EC2 spot instances to reduce EC2 costs.
  • Use compute savings plans to reduce EC2, Fargate and Lambda costs.     
      3. Match capacity with demand.
  • Reduce costs by either stopping instances or downsizing them.
  • Automatically stop instances when required.
  • Automatically resize the instance according to the load.
  • Identify EBS volumes with no utilization and reduce cost by taking snapshots and delete them.
  • Analyze S3 usage and reduce cost by leveraging lower cost storage tiers using S3 lifecycle policies. Tools : S3 Intelligent Tiering, S3 Analytics.
  • Review networking and reduce costs by deleting idle load balancers.
      4. Maximize the power of flexibility and scalability.

Key takeaways
  • Analyze the current inventory(if there is one).
  • Understand the business requirement if it is a greenfield deployment.
  • Understand the pricing of a particular AWS service that comes in the infra architecture.
  • Match the capacity with demand.
  • Optimize the cost.
Note: Use AWS Pricing Calculator to calculate the estimate.

Hope y' all found it useful!!

Reference Links:
                                                                                                                                          -  ANKITHA B H

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