Achieving 20% reduction in Cloud spend
For many years, the technical leadership at TradeTech Group has pioneered the use of AWS, believing since the company was established that the Cloud was the best option to launch the its platform, in terms of speed, low cost, breadth of features, and security. Within a few years, TradeTech Group’s monthly spend on AWS services had skyrocketed; 75% of it relating to EC2 costs, and the rest to the other AWS services (S3, RDS, EBS etc.). Keen to reduce costs, the company set itself a goal to cut its monthly Cloud spend by 20% to 30% within three to six months.
- Audit – using AWS Technology Partner to audit the company’s EC2 usage and EBS volumes against established cost-optimization best practices.
- Optimizing instance type according to utilization – rectifying over-provisioned instance sizes running at a very low rate of utilization by optimizing according to instance type.
- Using larger EBS GP2 type volumes – AWS CloudWatch revealed that using larger EBS GP2 type volumes would enable TradeTech to free up 3 IOPS per GB of disk space, removing the need for iO1 EBS and purchase of expensive PIOPS.
- Terminating unnecessary EBS volumes – terminating a number of unused, underutilized and infrequently-accessed EBS volumes.
TradeTech’s monthly Cloud spend was reduced by 20% overall, including: 17% reduction in EC2 compute costs; the purchase of RI (Reserved Instances) at a significantly cheaper price than purchasing EC2 on an on-demand basis; reduction of 90% in EBS Provisioned IOPS.
“Having realized the savings from the initial audit, we plan to continue working with CloudZone to implement AWS cost optimization best practice recommendations for hardening, extending fault tolerance, and improving performance of its environment,” says a TradeTech representative