A governance and automation tool within the AWS Systems Manager suite designed to help organizations plan, approve, implement, and audit operational changes to their cloud infrastructure and applications.

Cloud cost allocation is the process of identifying, quantifying, and assigning costs associated with cloud resources to the appropriate business units, projects, or individuals.

Anomaly detection is a process that involves identifying unusual or unexpected spikes in cloud spent.

Auto Scaling is the process of automatically adjusting the amount of computational resources that a cloud service uses based on its current demand.

Chargeback is the process of attributing the costs of cloud resources to the specific business units, projects, or individuals that use them.

Cloud billing is a method used to create invoices based on resource usage data within a cloud environment.

Cloud cost management is the process of managing and optimizing the costs associated with cloud computing.

A Cloud Service Provider is a company that offers cloud computing services accessible through the internet. It helps businesses operate without making substantial investments in physical infrastructure.

Cloud storage allows you to save files on remote servers managed by a provider, making them accessible anytime and anywhere over the internet.

Cloud tagging is a way to label your cloud resources with names or categories to help organize, find, manage, and track costs more easily.

AWS Cost Explorer is a tool provided by Amazon that lets you visualize and understand your AWS costs and usage over time. Its features are designed to help you optimize your AWS cloud spending.

Cloud cost optimization is the process of reducing cloud costs without compromising performance, security, or business objectives.

AWS Cost and Usage Report (CUR) is a tool that provides detailed reports on your business's AWS spending.

AWS EC2 provides secure, resizable, and scalable computing capacity in the cloud.

FinOps, short for Financial Operations, is an operational framework and cultural practice that offers collaborative discipline between executive, finance, and engineering teams.

Cloud cost forecasting is a critical aspect of cloud cost management. It involves predicting the financial expenditure associated with cloud usage.

Horizontal scaling entails adding more nodes or machines to your infrastructure to manage increased demands.‍

Multi-Cloud Cost Management involves strategies and tools used to effectively monitor and optimize costs from different cloud service providers.

On-demand instances are cloud resources that are always available whenever you need them and pay only for the time you use them. This is suitable for workloads that cannot be interrupted, and users can use these instances without a long-term commitment.

Public cloud is a type of cloud computing and the provision of computing resources, including servers, storage, and applications, over the internet by third-party service providers.

Resource optimization is a strategy to efficiently utilize your computing resources, such as servers and storage, to achieve optimal performance while avoiding wasting capacity, and minimizing your costs.

Cloud ROI evaluates the benefits a business gains from adopting cloud-based solutions relative to the initial and ongoing costs.

Rightsizing is the process of optimizing cloud resources to match the requirements of an organization.

AWS Savings Plans are a flexible pricing model that allows businesses to save up to 72% of their AWS usage.

Unit cost refers to the cost associated with producing, managing, or delivering a single unit of an anticipated service. This cost can vary depending on the context and objectives of the business.

Usage Optimization in the cloud refers to the strategic process of aligning provisioned resources with actual business requirements. The goal is to maximize value while maintaining cost efficiency by reducing waste and ensuring optimal resource utilization.

Usage-based pricing is a pricing model where the cost of a product or service is determined by how much it is used.

Vertical Scaling is used to increase a system's capacity. It involves adding more resources to an existing server or machine, which allows you to run the same workload on better specifications.