The tool that is essential to Cost Optimization is Cost Explorer, which helps you gain visibility and insights into your usage, across your workloads and throughout your organization. The following services and features support the four areas in cost optimization:
Expenditure Awareness: AWS Cost Explorer allows you to view and track your usage in detail. AWS Budgets notify you if your usage or spend exceeds actual or forecast budgeted amounts.
Cost-Effective Resources: You can use Cost Explorer for Reserved Instance recommendations, and see patterns in how much you spend on AWS resourcesover time. Use Amazon CloudWatch and Trusted Advisor to help right size your resources. You can use Amazon Aurora on RDS to remove database licensing costs. AWS Direct Connect and Amazon CloudFront can be used to optimize data transfer.
Matching supply and demand: Auto Scaling allows you to add or remove resources to match demand without overspending.
Optimizing Over Time: The AWS News Blog and the What’s New section on the AWS website are resources for learning about newly launched features and services. AWS Trusted Advisor inspects your AWS environment and finds opportunities to save you money by eliminating unused or idle resources or committing to Reserved Instance capacity.