October is the time when many companies start their budget planning. How do you know if your investment in technology is enough to keep you competitive? VAST partner CloudHealth, the industry-leading cloud management platform which powers VAST ViewTM , took a look at where 4,000 AWS customers put their money in the cloud.
What You Spend Depends on Who You Are
It’s no surprise that what you spend depends on how big you are and what industry you’re in. The average monthly AWS spending ranges from $13K per month for small and medium size businesses to $830K per month for enterprise scale businesses. All of them have seen their cloud spending increase since 2018. The smaller businesses upped their cloud spend by 24%, the bigger companies, 58%.
When looked at by industry, the lowest average monthly cloud spend is in the public sector and education. Media and entertainment have the biggest monthly cloud budget, maybe because they serve up so much content.
Spending on New Technology Is Increasing
More than two-thirds of AWS spending is for compute services like EC2 and EBS. The percent of AWS spending dedicated to storage has remained stable since 2017 at 7%, with nearly all (more than 90%) of storage spending on S3.
In addition, for many businesses, cloud provides an easy way to access new technologies. CloudHealth found significant growth in three specific technologies:
• Containers: spending increased more than six times
• Machine learning: spending increased more than 540%
• Serverless computing: spending increased by more than 50%
Despite the continued importance of big data, analytics services experienced little growth in spending, rising to 4.6% from 4.3% of the companies’ AWS spending.
Companies Look to Save Money
Despite the increase in cloud spending, companies continue to look for ways to save money in cloud. Many are now taking advantage of convertible reserved instances, which offer the agility to change instance configurations while retaining the cost benefits of committing to instance usage. Two years ago, CloudHealth saw only 4% of businesses using the convertible form of reserved instance; this year, it was 64%.
Get help making the most of your cloud spending with VAST ViewTM. Powered by CloudHealth, VAST View offers a consolidated view across your hybrid and public cloud infrastructure, whether it resides in Amazon Web Services, Google Cloud Platform, or Microsoft Azure (or even in your own data center). With the high visibility provided by VAST View, you can take control of your cloud spending and implement policies that ensure your cloud resources are used wisely. Contact VAST IT Services to learn more about how you can manage your cloud spending and your cloud resources efficiently and effectively.