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Cost Summary and Forecast

Location

Main Dashboard > Select {Account} > Cost monitoring > Open dashboard

The Cost Summary and Forecast dashboard provides:

  1. key cost metrics on your Account(s), and
  2. cost forecasts for the upcoming month.

Key metrics provided include:

  1. Cost summaries - high level cost metrics
  2. Cost optimisation score - % progress towards fully utilised and optimised account(s)
  3. Cost breakdown - understand drivers behind current Account(s) costs and expected costs next month
  4. Cost per region - optimisation scores by region
  5. Most significant opportunities - ranked list of opportunities to optimise your Account(s)

and can be filtered to include different types of costs and credits.

Example of Cost Summary and Forecast dashboard:

Cost summaries


Cost to date

Approximate spend across selected accounts from the beginning of the current month to the last time Cloud Conformity processed cost allocation bill files in the target master billing account.

Forecasted monthly spend

Every time Cloud Conformity processes a bill file, based on processing time and cost to date of each service and usage type, a forecast is made. The algorithm used to forecast is linear for on-demand (i.e. pay per usage) usage types, and fixed for one-time charges (e.g. buying reserved instances, monthly flat support fees).

Example 1: on demand

Assuming that cost to date for EC2 service, BoxUsage usage type is $1000 on 20th of the month, forecast will be about $1500 until the end of the month because BoxUsage is an on-demand usage type.

Example 2: Upfront reservation fees

It is 20th of the month and we made a reserved instance purchase on 10th costing $10,000 upfront. Forecast for “Sign up” charges will stay flat at $10,000 until the end of the month.

Clicking on Explore… will display a chart that compares the cost to date and monthly forecasts of several services. as well as detailed costs and evolutions over previous months. You can use filter to refine the chart.

Last month spend

Similar to cost to date for the last month.

Note: This information is extracted from Cost Allocation bill files.

Clicking on Explore will display a chart that compares the cost to date and monthly forecasts of several services, as well as detailed costs and evolutions over previous months. You can use filter to refine the chart.

Cost optimisation score

This is the indicator of how close the billing family is to optimising all of the resources that Cloud Conformity monitors. The formula is:

  • Total Monitored Cost: Cloud Conformity uses AWS API to find out whether resources that exist in AWS accounts are being utilised, however not all types of resources are monitored for cost and usage. The total cost of all of the resources in a billing family that Cloud Conformity can monitor is called Total Monitored Cost.
  • Waste: As Cloud Conformity monitors users’ AWS resources, some of the these may be judged to be under-utilised or unused. The cost of these resources is considered waste.
  • Utilised Resources Cost = Total Monitored Cost - Waste

You can improve this score by actioning cost opportunities available accessible via the Improve button. You can also download the cost opportunities in CSV or PDF format by clicking on Download as Report.

Note:

  1. Waste and Cost are calculated per-month for on-demand services and per-period/per-purchase for one-time and upfront costs. For example, if you’ve bought some Reserved Instances but haven’t used any of them, Cloud Conformity will show a saving equal to the total price of the reserved instances. In other words, “forecasted monthly cost savings” can be much higher than current or last month usage.

Cost breakdown

See Cost Breakdown summary for help on breaking down your Account(s) costs and next month expected costs.

Cost per region

See Cost per region for help on geographic visualisation of where your Account(s) cost opportunities are located.

Most significant opportunities

See list of cost opportunities for help on actioning cost opportunities identified by Cloud Conformity.