Accurate cost factors help you to determine the profitability of business units and products. Cost tracking helps you to allocate resources at the right place to increase ROI. Understanding cost drivers helps you to control your business expenditure.
To optimize costs, you must know your expenditure pattern across the organization. You need to have visibility of IT cost expenditure over a period of time to determine cost-saving opportunities. You can take the required steps for cost optimization and understand the impact by creating a visualization of cost trends, which shows historical cost and forecasts by resources and departments across the organization. Your team needs to gather data by logging all data points, analyze them with monitoring, and then create a visualization report.
To identify cost-saving opportunities, you need detailed insight into your workload resource utilization. Cost optimization depends upon your ability to forecast future spending...