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Benefits of Microsoft Azure Cost Management

Azure Cost Management is a no-cost service that is available to Azure cloud customers through Azure Cost Management, which is accessible via the Azure portal. It provides information about the total cost of your services and their utilization for all Azure services as well as Azure Marketplace products. The service provides information and reports, and can also provide data about your organization’s use of other cloud services.

Once enabled, Azure Cost Management continuously monitors your resources and offers ongoing reports. You can also integrate Azure Cost Management with Azure Advisor and get cost-related recommendations that are tailored to your usage. To further personalize your cost management, you could use REST APIs and integrate into Microsoft Power BI.

Benefits of Microsoft Azure Cost Management

Azure cost management has two major benefits for your company: gaining visibility over cloud spending, and helping you track costs to specific initiatives or departments.

Monitor and Optimize Azure Costs

Azure Cost Management lets you examine the past cloud usage and expenditures, as well as predict future costs. It is possible to view costs as a daily, monthly or annual pattern, to detect trends and anomalies as well as identify ways to optimize and save. This information comes directly from Azure so it shows the exact amount of units on the basis of which your Azure billing is calculated.

Prices for Map Cloud costs to Departments or Initiatives

Azure Cost Management classifies your resources into multiple buckets using an idea of cost entity. A cost entity refers to a particular department or project within your organization that pays for Azure services. It is also possible to create costs models that arrange resources according to labels that the teams added to the real Azure resources.

After you have properly defined Cost entities, models and costs, the teams can utilize Azure Cost Management to view and investigate costs associated with the project’s budgets. You can also create budgets and alerts to alert or limit excessive use for teams, projects, or specific users.

Four Ways to Reduce Azure Costs with Azure Cost Management and related tools

Azure Cost Management is designed to help organizations find underutilized resources as well as eliminate waste and lower costs.

Cost Analysis Report

Cost Analysis report in Azure cost management. Cost Analysis report in Azure Cost Management allows you to evaluate your company’s cost in great detail, by dividing costs using Azure attribute attributes for resources.

Here are a few examples of questions you can use the cost analysis report to answer: report:

What will be the costs for this month? See how much you have spent and whether the different cost-related entities are within their budget.

Have there been cost irregularities? Verify the use of services in a way that is unusual or cost increases and ensure that the costs are within a reasonable range and suitable for normal usage.

Does the amount you are invoiced match what you expected? Verify your Azure bill against actual usage of the services and confirm that the billing is what you would have expected. See if there were major changes from prior months and look into them.

How can we split costs between departments/cost entities? Review the way Azure costs should be split over projects, organizational units or individuals.

Azure Budgets

The budgets function of Azure Cost Management allows you to establish a budget to Azure services, based on cost or use. It is recommended to revisit budgets regularly to check if certain budgets are not being met and adjust them as required.

Azure Budget also allows you to configure automated triggers for better cloud management. For example, if certain budget thresholds are reached you can set up the service to stop VMs in the event that budgets are exceeded. It is also possible to switch your infrastructure to various service tiers based on budget triggers.

Azure Pricing Calculator

Azure Pricing Calculator can be typically utilized in conjunction with Azure Cost Management for cost management, and to assess pricing for various configurations of Azure services. This is useful when you are creating new workloads on Azure or expanding existing workloads.

There are a variety of ways to run a specific application or service using Azure and the various services, service tiers , or options can have a major effect on costs. It is possible to use the Pricing Calculator to calculate costs for various configurations and understand pricing for future use of Azure.

Azure Advisor

Azure Advisor is a service that can identify potential savings opportunities on Azure such as:

Virtual machines underutilized, specifically in terms of CPU or network utilization. It is then your choice to turn off or reduce the size of the VMs.
reserve Instances (RIs) are used for VMs that are continuously running over a long time.
Eliminating network resources that are not being used, like ExpressRoute circuits virtual network gateways, or public IPs.
Make your database more efficient with correct-sizing MariaDB, MySQL or PostgreSQL instances.

Azure Cost Management Q&A

How Do I Enable Azure Cost Management?

To enable Azure Cost Management for authorized users:

Log in to the Azure portal using an enterprise administrator account
In the drop-down menu select Cost Management + Billing
Click on Billing scopes and choose your bill account
Click Settings, and then select Policies from the menu.
Select the user you wish to grant access to and set the View charges option to On

Is Azure Cost Management Free?

Yes, partners and customers of Azure can benefit from Azure Cost Management for free to manage the Azure costs. The Azure portal is a source of Azure Cost Management, and additional tools for free that can assist you with managing your expenditure such as Azure Price Calculator, the Azure Price Calculator, Azure Advisor, as well as Azure Migrate.