A cloud cost analysis tool is a software product designed to help corporations minimize the cost of their online operations.
The tool provides valuable insight into how a business uses its cloud computing resources in general.
Cost analysis tools can collect data on the number of servers running at any given time, moment-to-moment processor utilization, memory usage, and other operational metrics. Reporting tools can use this metadata to group and organize cost and utilization information. Other functions include:
- Verification of bills to ensure legitimacy.
- Avoidance of duplicate or multiple billings for a single product or service.
- Avoidance or correction of billing errors.
- Finding the best price for a given service or product.
- Determining which services or products to buy based on location and resource consumption.
- Establishing and maintaining spending thresholds.
Popular cloud cost analysis tools include Cloudyn, CloudVertical, CloudCheckr, and Newvem. Prices start at under $100 a month for low-end professional versions, ranging up to several hundred dollars a month for top-tier business versions.