Cloud costs are escalating primarily because organizations struggle with real-time visibility into their cloud resource usage. This challenge is exacerbated when distributed teams work in isolation, causing unmanaged resource deployments that inflate costs. To address these issues, FinOps practices are vital as they enhance financial accountability and promote collaboration between various departments. Additionally, the introduction of cloud cost intelligence (CCI) by New Relic provides tools to analyze and act upon cloud cost data more effectively, fostering a culture of cost-awareness and improving investment decision-making.
Cloud costs are spiraling out of control due to a lack of real-time visibility into usage. Distributed teams operate in silos, leading to unmanaged spend and inefficiency.
FinOps helps organizations control cloud costs through collaboration between engineering, finance, and business teams, ensuring cloud spending aligns with business goals and enhances performance.
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