Financial Metrics

The cost model for the cloud is different from on-premises implementations. Instead of having to deal with long-term predictions for resource requirements that often result in you paying for idle resources, when you're in the cloud, you can take a right-size approach to managing finances.

To effectively understand, analyze, and manage your costs, use Oracle Cloud Infrastructure (OCI) resources such as billing tools, the Cost Analysis visualization tool, and budgets.

Oracle Solution Playbooks and Oracle University courses also provide tips to manage your costs. In the Solutions Playbook Best practices for optimizing the performance and cost of cloud resources, see Understand and Optimize your Spending and Track and Manage Usage and Cost. The OCI Foundations course, available through Oracle University, includes short videos about pricing, cost management, and a demonstration of Cloud Advisor and cost management tools.

Monitoring Your Cloud Spending

After your workloads are running on OCI, validate your cost estimates and monitor your cloud spending.

Cost Analysis is an easy-to-use visualization tool to help you track and optimize your Oracle Cloud Infrastructure spending.

The cost and usage reports can be used to obtain a breakdown of your invoice line items at resource-level granularity.

The OCI Cost Governance and Performance Insights Solution, available through Oracle Cloud Marketplace, takes advantage of cost reports, Autonomous Data Warehouse, and Analytics Cloud to provide a platform where you can develop your own reports. For more information, see Monitor and analyze the cost, governance, and performance of your resources in the cloud.

Forecasting Usage and Costs

You can use Cost Analysis to estimate future usage and consumption information, based on past usage data.

Note: Forecasted values are just estimates based on past usage trends, and likely will differ from actual usage.

Controlling Costs

With a consumption based model, it's critical for businesses to control their spending.

Use a budget to set soft limits on your Oracle Cloud Infrastructure spending, and use compartment quotas to set hard limits on resource consumption.

Cloud Advisor finds potential inefficiencies in your tenancy and offers guided solutions that explain how to address them. Cost management recommendations are based on historical usage and can help you to maximize cost savings.

You can also find tips to manage your costs in the following blog posts:

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Solution Playbooks: