The age of cheap cloud data is over. Faced with rising energy and labor costs alongside record inflation, CNBC claims that Amazon is bumping up the cost of its cloud services. In order to help customers meet their costs, they are providing services including Graviton instance chips, which reduce energy costs, alongside tips on reducing their data spend. The business of outsourcing is lucrative and will continue to be cost-effective for businesses, but new efficiencies must be found in order to enhance their services.
Managing down databases
Many AWS clients will choose to use DynamoDB, the proprietary software suite developed by Amazon, to manage their data. DynamoDB is highly valued for its flexibility, with Microsoft noting the ease with which DynamoDB data can be moved to Azure and similar packages. Due to its proprietary nature, it can be effective to reduce AWS DynamoDB costs in order to find efficiencies. Two effective ways to do this can be through re-assessing whether the business needs an on-demand capacity mode, suitable for ebb-and-flow enterprise, or provisioned capacity, which works with more rigidity. This will help to ensure that the product being paid for is exactly right for the enterprise.
Several huge institutions are migrating their data to AWS. The most notable of these is NASDAQ, who have moved their first options market over to AWS as of early December, ‘22. With this will come greater stock prices, more competitive pricing, and the opportunity to network – in itself an opportunity to create more revenue. This is an important principle – optimizing your AWS data in a way that will support your enterprise will increase income, making it more affordable.
Diversify your portfolio
Finally, consider whether you need to remain entirely within AWS or if there are other solutions on the market that can benefit your business. As MarketWatch highlights, the biggest threat to AWS in recent years has been competitor clouds – and, now, 81% of businesses use a multi-cloud solution. If you can silo off some part of your operation in a manner that makes it run more efficiently, take it off AWS and do it.
Being flexible in your web and data hosting needs is the key to retaining control over your business and making the most bang for your buck. AWS is a crucial host that’s here to stay – make the most of it.