Cloud computing is one of the IT industry's hot sectors right now, and analyst firms are predicting it will heat up further in the next few years. According to one such market analysis study conducted by IDC, public cloud services are predicted to grow five times faster than traditional IT products, from more than $16 billion in 2009 to $55.5 billion by 2014. But the analyst firm adds that many CIOs are still having serious concerns about cloud cost monitoring and management.
Despite these concerns, cloud computing is still making its mark on the industry and appears to be here to stay. In order to meet the numbers predicted by IDC, an organization needs to understand just how much money that latest cloud project is going to cost. Trying to figure out the cost of an application, service, or workload running in the cloud with complicated spreadsheets and guestimated pricing will no longer suffice.
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For most companies that have already jumped into the soft and fluffy IT cloud, costs are still a relatively unknown factor until the bill comes in at the end of the month. That unknown cost doesn't usually sit well with decision makers.
"It has become crucial for all sizes of companies to tie cloud success to cost as well as overall system performance," said Phil Didaskalou, CEO of Uptime Software. "Cloud computing can help make organizations more efficient. However, without a clear and detailed view into the cost of cloud deployments, it can be very difficult for IT to justify new cloud initiatives."
With today's economic climate, there's a growing focus on IT financial management. But today's tools generally provide only a snapshot or analysis of the past rather than including the present and future. While these tools are useful in giving you an idea of how much you're spending, it's always after the fact. What's needed is a way to also forecast future cloud costs. Imagine being able to give the CIO a forecast of how much a cloud deployment will cost if scaled up versus how much it presently costs by application, line of business, user, geographic location, account, or even single instances.
To help address this challenge, Uptime Software has created a new software-as-a-service (SaaS) cloud management subscription service called UptimeCloud, an online cost and capacity management service that helps measure, monitor, and manage the cost and capacity of a cloud-based infrastructure. As a SaaS solution, there is no software to install. Everything is done through the UptimeCloud portal, which today runs in Amazon Web Services (AWS); this fact, in itself, should help the company to scale in order to meet any growing demand.