According to Precedence Research, the cloud computing market size is going to increase to $1.6 trillion in 2030, necessitating prioritization of cost optimizations.
Innovaccer, a healthcare technology company, right-sized its EC2 instances based on Compute Optimizer insights, which reduced their cloud spending by 33%.
Overprovisioning of EC2 instances causes inefficiency in cloud costs; many organizations overestimate their resource utilization, resulting in unused compute and heavy bills.
Switching to burstable instances like T3 for workloads that witness periodic spikes can dramatically bring down idle compute costs for organizations.
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