Title

AWS re:Invent 2023 - Optimize cost and performance and track progress toward mitigation (ARC319)

Summary

The session focused on optimizing and tracking cost efficiency and operational performance of workloads on AWS.
Global cloud spend is increasing, highlighting the importance of cost optimization.
Cost is not just a number; it reflects decisions, priorities, and the ability to optimize value.
The speakers included Yuri Prikotka, Principal Technical Account Manager at AWS and a lead of Cloud Intelligence Dashboards Framework; JR Stormant, Executive Director of the FinOps Foundation; and Mike Raffey, Infrastructure Architecture Director at Dolby Laboratories.
They discussed the importance of cost optimization, not just for reducing expenses but for maximizing value.
The session covered the use of AWS services like Cost Explorer, AWS Budgets, Compute Optimizer, and Trusted Advisor for cost management.
The Cloud Intelligence Dashboards Framework was introduced, which allows stakeholders to work together on data-driven decision-making.
Mike Raffey shared how Dolby Laboratories uses the dashboards to identify optimization opportunities and drive best practices.
The session concluded with a call to action to deploy cloud intelligence dashboards and embrace a cost-aware culture.

Cost optimization is a continuous process that involves people, technology, and processes.
FinOps is a financial management discipline for the cloud that promotes a culture of cost transparency and accountability.
The Cloud Intelligence Dashboards Framework is a set of customizable dashboards on Amazon QuickSight that provides visibility into AWS costs and usage.
The dashboards can be tailored to the needs of different stakeholders, such as finance, procurement, engineering, and executives.
Real-world examples from Dolby Laboratories illustrate how visibility into costs can lead to significant savings and architectural improvements.
The integration of sustainability metrics into FinOps practices is becoming increasingly important, as engineers are often motivated by environmental impact as well as cost savings.
The session emphasized the importance of treating FinOps metrics as operational metrics and providing engineers with the tools and visibility to identify and act on optimization opportunities.
The speakers highlighted the need for internal marketing to celebrate cost wins and encourage a cost-aware culture within organizations.