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5 ways to get your AWS cost estimate

Yurii Kucherenko

Yurii Kucherenko

Estimating AWS costs is crucial for effective budget planning, cost optimization, and decision-making. By getting an estimate of the costs associated with running your AWS resources, you can allocate your budget wisely, identify areas for cost optimization, compare different resource configurations, forecast future expenses, and make informed decisions. These estimates provide valuable insights into the financial impact of your AWS usage, enabling you to optimize costs, ensure budgetary alignment, and drive accountability within your organization. In this article, we will explore the various tools available for estimating AWS costs.

Where to look for AWS cost estimate? 

 

There are several ways to get AWS cost estimate for your resources. Here are the options:

AWS Cost Explorer

 

AWS Cost Explorer is a web-based tool provided by AWS that allows you to visualize, analyze, and forecast your AWS costs and usage. It provides pre-built reports, interactive charts, and cost breakdowns, helping you understand your costs at a high level.

It is useful for gaining high-level insights into your AWS costs and usage trends. It provides visualizations and reports that can help you understand how costs are distributed across different services, regions, or tags. It can be used for budget planning, identifying cost anomalies, and analyzing cost drivers.

Pros:

  • User-friendly interface with pre-built reports and interactive charts.
  • Ability to drill down into cost details and filter data based on various dimensions.
  • Cost forecasting feature to estimate future costs.

Cons:

  • Limited granularity in some reports, making it difficult to get detailed insights for specific resources.
  • It may take a few hours for new cost data to be available in Cost Explorer.
  • Advanced cost optimization features are not available within the tool.

AWS Pricing Calculator

The AWS Pricing Calculator is an online tool that allows you to estimate the cost of using AWS services based on your expected usage patterns. You can select specific services, configure resource details, and input usage quantities to generate an estimated monthly cost. It also helps you compare costs across different services, regions, and pricing models to make informed decisions during the planning stage.

Pros:

  • Ability to select specific services and configure resource details for accurate cost estimation.
  • Options to customize usage patterns, such as choosing reserved or on-demand instances, data transfer volumes, and storage sizes.
  • Provides an estimated monthly cost based on your inputs.

Cons:

  • Requires manual input and configuration, which may be time-consuming for complex architectures.
  • Limited to estimating costs for specific services and does not provide a comprehensive view of overall AWS costs.
  • May not reflect real-time pricing changes or discounts.

AWS Simple Monthly Calculator

The AWS Simple Monthly Calculator is a basic online tool that helps you estimate the cost of running a specific set of AWS resources. The AWS Simple Monthly Calculator is helpful when you have a specific set of AWS resources in mind and want to estimate the monthly costs of running them. It allows you to configure various resource types and quantities to get a detailed estimate. You can select various input details such as instance types, storage sizes, and data transfer to get an estimated monthly cost.

Pros:

  • Provides a granular cost estimate by allowing you to specify resource details.
  • Supports a wide range of AWS services and provides options for storage, compute, database, and networking resources.
  • Can help in comparing costs between different resource configurations.

Cons:

  • Requires manual input for each resource, which can be time-consuming for complex architectures.
  • Limited to estimating costs for specific resources and does not provide a comprehensive view of overall AWS costs.
  • May not reflect real-time pricing changes or discounts.

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AWS Cost and Usage Reports

AWS Cost and Usage Reports provide detailed billing data in a machine-readable format. You can enable this feature to get a comprehensive breakdown of your AWS costs, including resource-level details. You can export this data and perform custom analysis or use third-party tools to generate cost estimates.

Pros:

  • Provides detailed billing data in a machine-readable format for custom analysis.
  • Offers granular visibility into costs at the resource level, allowing for deeper insights.
  • Enables integration with third-party cost management tools for advanced analysis and optimization.

Cons:

  • Requires additional effort to set up and configure the reports.
  • The data may not be readily available and may take a few hours to generate.
  • Requires technical expertise to process and analyze the data effectively.

Third-party tools

There are various third-party tools available that provide more advanced cost management and optimization capabilities for AWS. Some popular options include CloudCheckr, CloudHealth by VMware, and AWS Cost Management partners. These tools often offer additional features beyond getting aws cost estimate, such as cost optimization recommendations and budgeting. Third-party cost management tools are beneficial when you need more advanced cost optimization features, customized reporting, or integration with other systems. They provide comprehensive cost management capabilities in comparison to standard services.

Pros:

  • Advanced cost optimization recommendations to identify potential cost-saving opportunities.
  • Customizable dashboards and reports for detailed cost analysis.
  • Integration with other cloud platforms or business systems for holistic cost management.

Cons:

  • Additional cost for using third-party tools.
  • Learning curve to understand and leverage the tool’s features effectively.
  • Integration and setup may require additional effort.

Consider your specific requirements, level of granularity needed, and the complexity of your AWS infrastructure when choosing the most suitable tool for estimating your AWS costs.

By having accurate AWS cost estimate, you can effectively manage your cloud costs, optimize resource allocation, and make informed decisions that align with your budgetary goals and business objectives. You should consider your specific requirements, level of granularity needed, and the complexity of your AWS infrastructure when choosing the most suitable tool for estimating your AWS costs. Remember that cost estimation is just the first step in managing your AWS costs effectively. It’s important to monitor your actual usage and costs regularly, implement cost optimization best practices, and set up cost alerts and budgets to ensure cost efficiency and prevent unexpected expenses.

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