Elasticity, security, reliability, and other features like the ability to reserve AWS instances have helped AWS cloud to gain a strong foothold across various verticals. Today, AWS is at the helm of the cloud arena for the agility it brings to enterprises’ world.
If you are an enterprise looking to save cost on AWS cloud infrastructure but do not know how to go about it, then you have come to the right place. In this blog post, we will uncover some of the secrets behind the art of reserving AWS instances, and how Botmetric can help you optimize your cloud spend.
Reserving AWS Instances
AWS allows you to reserve instances, in advance, just so that you have access to enough capacity when you need it. It also offers the discounted usage pricing for as long as organizations own the Reserved Instances. This allows users to predict compute costs for the duration of reservation.
Using AWS Reserved Instances, enterprises can reserve EC2 computing capacity for 1 or 3 years. This can be done to get a substantial discount of up to 75 percent in comparison with on-demand instance pricing. This is critical for maintaining workloads in the organizations. More so, enterprises can have reassurance in their capability to kick off the number of instances they reserved when they require them the most.
There are two types of reserved instances:
Standard Reserved Instances
Users can access these instances any time. They can be launched 24 hours/day x 7 days/week. These instances offer enterprises the elasticity to run the required number of instances. Additionally, they can be launched whenever they are required, including during steady state workloads.
Scheduled Reserved Instances
These instances are available for access only within stipulated time windows they have been reserved for. They permit users to match their capacity reservation to a straight chronic schedule. This only needs a fraction of a day, a week, or a month. For instance, scheduled Reserved Instances need to run on the first five days of the month, for any expected workload, or scheduling nightly bill processing from 4pm-12am each weekday.
Based on the reservation type and budget allocation, you can choose a pricing model of AWS Reserved Instances. There are three types of the pricing model, namely All Upfront, Partial Upfront, and No Upfront.
The All Upfront model proposes the highest savings, while partial upfront model provides flexibility and no upfront model is more economical than on-demand instance pricing.
Despite visibility into types of RIs and their pricing models, it can be an intimidating task to manage and optimize the AWS cloud infrastructure. More so, optimizing costs in AWS can be achieved only by putting all the right things in the right place. And this is an ART!
Well Planned AWS Reserved Instances Optimize Cloud Costs by up to Five Times
To provide enterprises like you with a smart approach towards planning resource reservation on AWS, we at Botmetric offer AWS Reserved Instances Planner (RI Planner).
This is part of our intelligent cloud management suite. It provides data-driven predictive, prescriptive, and preventive recommendations on how best AWS instances, including unused and underused, could be leveraged at the right time to optimize AWS cloud spend. With just a few clicks, it provides visibility into Reserved Instances utilization for on-demand instance hours. Also, it provides a detailed list of all unused resources and suggestions on how it could be optimally used. With all these features summed-up, you can reap maximum savings from your AWS cloud.
Through years of experience, we have learned that reserving EC2 instances and other resources are the best way to save costs. Botmetric offers users Top EC2 Reservation Recommendations and lets them view their AWS reserved instance utilization with respect to on-demand instance hours. Our recommendations can help you in keeping your cloud spending under control, by up to five times. Read our blog on how to diligently plan AWS RIs for cost optimization.
To get the complete picture on how to optimize AWS cloud expenditure using Botmetric, view our exclusive webinar presentation on the ‘Art of Reservation and Cost Optimization on AWS.’