So, if f you find your instance too small for your needs, you can increase its size without losing any data or having to re-create the model. However, if your instance is too large for your needs, you must create a new, more minor instance and migrate your data to it.
Release unattached Elastic IP addresses and Use Private IPs
AWS Elastic IP addresses are static IP addresses that can be assigned to AWS resources such as EC instances. Elastic IPs are free if they are attached to a running EC instance.
However, if an Elastic IP is not attached to a running instance, you will be charged for it. If you have any unattached Elastic IPs, you should release them to avoid being charged.
You can also use AWS Private IPs instead of Elastic IPs to save on costs. Even if your instances are in the same availability zone, you’ll be charged Intra-Regional Data Transfer fees when you use a public IP inside the AWS EC2 network.
Identify Amazon EBS volumes with low-utilization
Amazon EBS volumes are block storage devices that can be attached to AWS EC instances. They can be used as primary storage for frequently accessed data or as secondary storage for infrequently accessed data.
Accordingly, EBS volumes with deficient activity over seven days indicate that they are probably not in use. Now, you should identify these volumes using the Trusted Advisor Underutilized Amazon EBS Volumes Check. And if you have any Amazon EBS volumes that are not being used, you should locate them and delete them to avoid being charged.
Purchasing Reserved Instances and Savings Plans
AWS Reserved Instances are a cost-effective way to save on AWS costs. RI’s provide you with a capacity reservation and offer a significant discount compared to On-Demand pricing.
You can purchase RI’s for EC, RDS database, ElastiCache, and Redshift nodes. AWS also offers Savings Plans, which offer up to 72% discount on AWS usage.
Remember to get the most out of RI’s and Savings Plans. You should purchase them for resources you know will be used for at least a year.
Delete unattached EBS volumes and snapshots
AWS EBS provides block-level storage volumes for use with AWS EC instances.
There could be hundreds of thousands of single EBS volumes in your AWS Cloud if you haven’t checked the delete box on many recently launched instances without it being selected. So, if you have any unattached EBS volumes or snapshots, you should delete them so that you don’t end up paying for them.
This is undoubtedly one of our AWS cost optimisation best practices, even if your business is relatively new to the AWS Cloud.
Upgrade instances to the latest generation
AWS EC instances are available in several generations, each with its own features and performance. Additionally, AWS regularly introduces new instance types and updates existing ones.
To get the most out of your AWS instances, you should upgrade them to the latest generation. Upgrading to the newest generation usually provides a significant performance improvement and can save you money.
Select reserved nodes for Redshift and ElastiCache Services
AWS Redshift is a data warehousing service that offers fast performance and low costs. You can save on AWS Redshift costs by purchasing reserved nodes.
A reserved node provides a capacity reservation and offers a significant discount compared to On-Demand pricing. You should purchase reserved nodes for Redshift if you know you will use the service for at least a year.
On the other hand, AWS ElastiCache is a cloud-based web service that makes it simple to set up, operate, and expand an in-memory cache. Purchasing reserved nodes may help you save money on AWS ElastiCache fees. If you know you will use the service for at least a year, you should buy reserved nodes for ElastiCache.
Move infrequently-accessed data to lower-cost tiers
Amazon Web Services currently offers six tiers of storage at different levels of durability, performance and price points. To determine which storage tier is most suitable for data, it will depend on factors such as how often data is accessed and how quickly a business would need to retrieve data in the event of a disaster.
Select availability zones and regions wisely
AWS offers a variety of regions and availability zones (AZs) to choose from. Moreover, the cost of AWS varies by region.
With this, data transfers between availability zones are charged an additional fee. So, when you select a region, you choose where your AWS resources will be.
Generally, you should select a region close to your users to minimize latency. It would help if you also linked an AZ close to another AZ in the same area to reduce the risk of an outage, and at the same time, you can save on AWS costs by selecting a less expensive region.
Q: Which AWS cost optimisation best practice is most important?
A: The AWS cost optimisation best practices are essential, but some may be more relevant to your business than others. For example, if you have a lot of infrequently accessed data, you may want to focus on moving that data to lower-cost tiers. Or, if you know you will use AWS Redshift or ElastiCache for at least a year, you may want to purchase reserved nodes for those services.
Q: What are some other AWS cost optimisation best practices?
A: In addition to the AWS cost optimisation best practices mentioned in this article, you should consider choosing an AWS support plan. Check out the article, How to choose the ideal option for your AWS support plan, for more in-depth information.
Q: What is AWS Redshift?
A: AWS Redshift is a data warehousing service that offers fast performance and low costs. You can save on AWS Redshift costs by purchasing reserved nodes.
Following the AWS cost optimisation best practices listed in this article can save money on your AWS bill. However, it is essential to note that some of these practices may be more relevant to your business than others. But whatever AWS cost optimisation best practices you choose to implement, the goal is to save money on your AWS bill. We hope this article guided you well!