Recap and Product Announcement Highlights from AWS’ Debut to FinOps X

Exciting Product Announcements from FinOps X 2024: Trustworthy, Flexible, and Standardized Solutions for Your FinOps Goals

Are you ready to take your FinOps practices to the next level? The recent FinOps X conference in San Diego was a game-changer, with AWS making some exciting product announcements that can help you achieve your FinOps goals. Let’s dive into the key highlights from the event and see how these new capabilities can benefit your organization.

FinOps is no longer just a buzzword – it’s becoming a crucial competency for organizations looking to optimize their cloud financial management. With the right tools and practices in place, you can make informed procurement and architectural decisions that drive immediate results. AWS is committed to providing trustworthy and user-friendly CFM tooling that gives you the data and recommendations you need to succeed.

One of the key announcements at FinOps X was the launch of the Cost Optimization Hub, which aggregates all cost-saving recommendations in one place. From rightsizing to purchase options, these recommendations are quantified and prioritized to help you focus on the most impactful optimizations. What’s more, AWS is giving you the flexibility to customize these recommendations to suit your unique business needs, ensuring that they are relevant and accurate for your organization.

Trust is paramount when it comes to cloud financial management, which is why AWS has been working closely with its experts to build reliable optimization recommendations for services like Amazon RDS. The new set of optimization recommendations for RDS instances, now available for PostgreSQL and MySQL database engines, can help you identify the right instance types and sizes to reduce costs or improve performance.

Flexibility and ease of use are also top priorities for AWS, with tools like the AWS Billing and Cost Management Console providing key CFM metrics and callouts for your organization. You can customize your data views, access Cost Explorer for detailed cost analysis, and even use natural language queries to retrieve cost information. With features like Split Cost Allocation Data and Cost Anomaly Detection alerts, AWS is giving you the flexibility to stay on top of potential cost overruns and make informed decisions.

Standardization is another key focus for AWS, with the introduction of Data Exports for FOCUS v1.0 in AWS Billing and Cost Management. This feature allows you to create exports of your AWS cost and usage data with the FOCUS 1.0 schema, making it easier to normalize cost and usage data across multiple sources. By aligning on areas like cost treatment and schema consistency, AWS is helping you streamline your cloud financial management practices.

As we look ahead, AWS is committed to partnering with the FinOps Foundation and its members to drive evolution towards more efficient cloud financial management practices. With a team of dedicated builders, product managers, and field specialists, AWS is here to support you on your FinOps journey and help you get the most out of your AWS investments.

Are you ready to elevate your FinOps practices and optimize your cloud financial management? Stay tuned for more updates and innovations from AWS as we continue to drive progress in the industry.

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