COST02-01 Establishing Cloud Budgets and Forecasts

High

It is easy to provision and expand cloud resources, so using the cloud brings efficiency, innovation speed, and agility. However, this also introduces a highly variable cost and usage pattern. Enterprises must rethink their existing budgeting and forecasting methods to adapt to changes in the cloud.

It is also essential to closely monitor historical expenditure changes and shifting service trends to make the most accurate budgeting possible. In addition, you can combine trend-based algorithms (using historical expenditures as inputs) and business driver-based algorithms (for example, new services on cloud or regional expansion) to improve the accuracy of financial forecasting.

You can access Cost Center and enable cost analysis to forecast future costs based on your historical expenditures. Cost analysis of Cost Center considers the characteristics of different billing modes and uses machine learning alongside rule-based models to forecast costs and usage across these modes.

You can also use Price Calculator to estimate costs for your desired services or any combination of services based on their usage required for service rollout or regional expansion.