What kind of analysis should be conducted to optimize spending on cloud storage?

Regular evaluations of storage usage versus performance needs are essential for optimizing spending on cloud storage. This analysis allows organizations to assess how much storage they are actually using in relation to their required performance levels. By understanding these dynamics, businesses can make informed decisions about whether they are over-provisioned or if they need to adjust their storage solutions to better align with their actual usage patterns.

Conducting this type of ongoing analysis can lead to cost efficiencies, enabling organizations to downsize or upgrade their storage based on real usage rather than estimates or assumptions. It ensures that the cloud resources are utilized effectively, maximizing performance while minimizing unnecessary expenditure.

This approach contrasts with purely relying on annual financial reviews, which may not capture the nuances of changing storage needs throughout the year. Feedback surveys from users might provide subjective insights but do not give a comprehensive view of usage patterns or performance metrics. Market comparisons of cloud vendors, while valuable for understanding competitive pricing, do not address the specific internal usage and performance balance that is critical for cost optimization in cloud storage.