Mastering AWS Cloud Cost: Cost Optimization Hub

Introduction:

1. Cost Optimization Hub entirely focuses on cost optimization recommendations across different AWS services. It is basically a centralized tools which helps users to identify the possibilities, consolidate the actionable opportunities within their AWS accounts and regions.
2. This looks across all AWS services and churns out the best and actionable list which helps in reducing the cost.
3. This has nearly 15 different types of Cost optimization recommendations.
4. This has visibility across multiple AWS Accounts and regions within same organization.
5. Use cases can be EC2 right sizing, Deletion/removal of unused/idle resources.

Notes:

• By default this option is disabled.
• For AWS Customers, it is available with no extra charge💰
• Cost Optimization Hub has flexibility for comparing and analyzing cost using filters and groups.
• It does require new service-linked role to be created within the account which is read-only access for the AWS resources. This role helps to analyze the resources and results in cost saving recommendation possibilities.

Benefits:

• Consolidates single dashboard for AWS cost optimization possibilities.
• Aggregate potential savings at single place.
• Showcase estimate cost saving with each action recommended at Hub.

Get Started with AWS Cost Optimization HUB:

1. Navigate to your AWS Console.
2. Search for AWS Cost Optimization HUB from Left Pane or type it in search bar at the top section.
3. By default this feature is not enabled.
4. Go ahead and enable it.
5. Now the ground is open for endless possibilities to explore the cost saving possibilities, recommendations and Analysis 🤑.

Does enabling cost optimization Hub charges?

✅ Free of Charge:

• For enabling it won't charge you. It is absolutely FREE.
• Recommendations such as Idle/unused EBS volumes or under utilized AWS EC2 Instance comes free with your AWS Account.
• Even Integrating this with AWS Budgets or AWS Cost Explorer doesn't require extra charge.

😭But what is being charged Indirectly?

• Acting upon recommendations which feeds data into Cost Optimization Hub comes with a cost (like using AWS Compute Optimizer).
• Detailed monitoring
• Integration of external or Third-party Tools.
• Purchasing Reserved or Saving plans as a part of cost optimization hub recommendation.

Using Cost Optimization is absolutely FREE

Acting upon its recommendation will cost you.