From the course: FinOps Essentials for Cloud Deployments

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Challenge: Approach cloud spending forecasting for Henry's Hammocks

Challenge: Approach cloud spending forecasting for Henry's Hammocks

From the course: FinOps Essentials for Cloud Deployments

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Challenge: Approach cloud spending forecasting for Henry's Hammocks

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(bright music) - [Instructor] As Henry Hammocks or HH continues its migration to AWS, your challenge is to design a robust approach to cloud spending forecasting. Several core FinOps principles, such as cost transparency, cost allocation, and automated monitoring have been introduced to HH, but forecasting remains complicated by the evolving cloud environment and the diversity of workloads in play. What you should do and think about. Identify the specific challenges HH faces in forecasting cloud spending. Consider the impact of varying workload sizes, the introduction of new cloud services, fluctuating demands, such as seasonal hammock sales, and prior gaps in cost visibility. How do these factors make prediction difficult? Considering the role of real-time monitoring and cost allocation, how can automated monitoring tools and strict tagging practices support more accurate, up-to-date forecasting? How might…

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