Cloud cost optimization is the process of finding underutilised resources, minimising waste, obtaining more discounted capacity, and scaling the best cloud computing services to match the real necessary capacity—all to lower infrastructure as a service price (Osypanka and Nawrocki, 2020).
NIFE is a Singapore-based Unified Public Cloud Edge best cloud computing platform for securely managing, deploying, and scaling any application globally using Auto Deployment from Git. It requires no DevOps, servers, or infrastructure management. There are currently many best cloud computing companies in Singapore and NIFE is one of the best cloud computing companies in Singapore.
What makes NIFE the best cloud company in Singapore?
Public cloud services are well-known for their pay-per-use pricing methods, which charge only for the resources that are used. However, in most circumstances, public cloud services charge cloud clients based on the resources allocated, even if those resources are never used. Monitoring and controlling cloud services is a critical component of cloud cost efficiency. This can be challenging since purchasing choices are often spread throughout a company, and people can install cloud services and commit to charges with little or no accountability (Yahia et al., 2021). To plan, budget, and control expenses, a cloud cost management approach is required. NIFE utilises cloud optimization to its full extent thus making it one of the best cloud companies in Singapore.
What Factors Influence Your Cloud Costs?
Several factors influence cloud expenses, and not all of them are visible at first.
Public cloud services typically provide four price models:
1. Pay as you go: Paying for resources utilised on an hourly, minutely, or secondly basis.
2. Reserved instances: Paying for a resource in advance, often for one or three years.
3. Spot instances: Buying the cloud provider's excess capacity at steep prices, but with no assurance of dependability (Domanal and Reddy, 2018).
4. Plans for savings: Some cloud providers provide volume discounts based on the overall amount of cloud services ordered by an enterprise.
What cost factors make NIFE the best cloud computing platform?
The cost factors which make NIFE the best cloud computing platform are:
· Utilization of computes instances — with prices variable depending on the instance type and pricing strategy.
· Utilization of cloud storage services — with varying costs depending on the service, storage tier, storage space consumed, and data activities done.
· Database services are commonly used to run managed databases on the cloud, with costs for compute instances, storage, and the service itself (Changchit and Chuchuen, 2016).
· Most cloud providers charge for inbound and outgoing network traffic.
· Software licencing – even if the cost of a managed service is included in the per-hour price, the software still has a cost in the cloud.
· Support and consultancy – In addition to paying for support, the best cloud computing platforms may require extra professional services to implement and manage their cloud systems.
What are NIFE’s Cost Saving Strategies that make it the best cloud computing services provider?
Here is the list of cost factors making NIFE the best cloud computing services provider:
Schedules can be set to start and stop based on the needs of the task. There is no point to activate and pay for a resource if no one is utilising it.
Make use of Reserved Instances.
Businesses considering long-term cloud computing investments might consider reserved instances. Cloud companies such as NIFE offer savings of up to 75% for pledging to utilise cloud resources in advance.
Utilize Spot Instances
Spot instances have the potential to save much more than allocated instances. Spot instances are a spare capacity that is sold at a discount by the cloud provider (Okita et al., 2018). They are back on the market and can be acquired at a discount of up to 90%.
Use cloud automation to deploy, setup, and administer the NIFE’s best cloud computing services wherever possible. Automation operations like backup and storage, confidentiality and availability, software deployment, and configuration reduce the need for manual intervention. This lowers human mistakes and frees up IT employees to focus on more critical business operations.
Automation has two effects on cloud costs:
1. You obtain central control by automating activity. You may pick which resources to deploy and when at the department or enterprise level.
2. Automation also allows you to adjust capacity to meet current demand. Cloud providers give extensive features for sensing application load and usage and automatically scaling resources based on this data.
Keep track of storage use.
The basic cost of cloud storage services is determined by the storage volumes provisioned or consumed. Users often close projects or programmes without removing the data storage. This not only wastes money but also raises worries about security. If data is rarely accessed but must be kept for compliance or analytics, it might be moved to archive storage.
You may also read : https://blogs.nife.io/best-practices-to-manage-cloud-budget/