Understanding and forecasting your costs
Organizations should perform timely analysis on their Azure invoice to monitor costs and reduce the overhead required to manage their IT resources. Using tools such as Azure Cost Management and Billing and Azure Advisor, you can analyze, manage, and optimize your workloads. Before we take a look at these tools and the benefits they provide, we must first understand the factors that are most critical for forecasting your costs in a cloud infrastructure.
Cloud economics
It is important for businesses to understand cloud economics so they can forecast their costs and maximize their cloud investment. Businesses should analyze what their return on investment (ROI) should be when migrating from an on-premises workload to the cloud or switching from other workloads to Azure. Primarily, you will need to benchmark the cost of running your current datacenter. This can include capital costs, maintenance and operational costs, and software licensing...