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Anodot Releases The State of Cloud Cost Optimization 2024 Report
[April 19, 2024]

Anodot Releases The State of Cloud Cost Optimization 2024 Report

Anodot updates its annual survey report, offering an in-depth summary of cloud cost optimization in 2024 for FinOps professionals

NEW YORK, April 19, 2024 /PRNewswire/ -- Anodot publishes its annual Cloud Cost Optimization Report, delivering insights from customer data and analysis of news and trends within the FinOps sector to prepare cloud users for 2024.

The report summarizes key findings from major organizations and companies in the FinOps space, including Anodot's recommendations on how to use these findings.

Additionally, Anodot utilizes its customer data to inform the report, showing how users optimize their cloud investments using their platform.

Key insights include:

  • 90% of recommendations generations focused on optimizing workloads: Anodot' AI engine findings indicate that in 2023, workload recommendations outperformed rate optimizations.
  • Data and storage optimizations made up nearly 80% of total savings: In 2023, Anodot customers achieved their biggest savings through Data & Storage optimizations, accounting for about 80% of total savings, up from 50%.
  • In 2023, FinOps practitioners implemented 90% of Anodot's optimization suggestions: Ebs-unattached, ec2-stopped-instance, ip-unattached, ebs-outdated-snapshot, and cloudtrail-duplicate-trails were the top 5 most frequent optimizations.

Anodot collects this data to help FinOps teams understand how colleagues manage cloud costs for navigating the cloud in 2024.

David Drai, CEO of Anodot commented:

"Cloud computing faces challenges with inflation, economic uncertainty, and resource demand from generative AI investments. Our new State of Cloud Cost Optimization Report provides data-driven insights and a TLDR summary for navigating 2024. At Anodot, we proudly support FinOps practitioners, offering them the insights for informed cloud decisions, significant savings, and sustainable growth."

The State of Cloud Cost Optimization Report 2024 is available for download on Anodot's website.

About Anodot

AI-based cost Optimization platform that forecasts, detects waste, and provides transparency and recommendations. Allowing you to facilitate strategic financial planning and management of your multicloud, K8s pods, and SaaS tools. Our multi-tenant, multi-billing platform optimizes costs across departments, teams, products, unit economics, and customers.

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