Reservations help you save money by committing to a usage plan for multiple products (for ex. Virtual Machines, Storage) . Committing allows you to get a discount for resources you are using. RIs are one of the cost saving strategies that can give you the biggest saving.
You can read more about other available cost optimization strategies.
Gain visibility into your reservations
With PyraCloud you can easily perform tasks related to managing cloud reservations, which allows you to accomplish the most savings.
PyraCloud gives you a central view to quickly check your reservations health, monitor savings, and utilization. This report is a part of our Spend Management Reporting feature and it is available here. We enable reporting automatically when our system detects an RI purchase.
- Recent average of your reservation utilization – you can check if there are any degradation in usage. If the average utilization is going down – resource that were utilizing RIs were likely deallocated.
- Savings column can inform you of how much money you’ve saved by purchasing this RI. PyraCloud calculates this automatically, so your can make an informed decision on whether or not to keep this reservation.
- Pyracloud keeps track on your historical purchases, so you can compare values at any time. For monitoring purposes look at status “Active” only.
- If your want to keep reservation list for your internal records, you can always export it to a XLS file.
Resources attached to RI
PyraCloud transforms billing data in a way that allows you to effortlessly explore resources utilizing your RI at a given point in time.
- Reservation details exposed by cloud provider
- The Amortized View groups data by resource, so you can see which resources are using this Reserved Instance. You can “drill down” to a selected month to see daily distribution.
- In Utilization tab you can monitor daily utilization of your reservation.
Spend and Budget Management
Lifetime of a resource is determined by the term, once expired resources will be marked as removed.
We have incorporated RI metadata into our prediction engine. We assume that a RI will be renewed (if your don’t cancel it) so you may see “Purchase” spikes in in your predictions, if enabled.
We value your time, so we automatically created notifications for all your RI’s. As a result, we will send you an alert if the RI utilization drops below 80%.
If you want to receive an email or SMS, be sure to verify your subscription in Consumption Section (1) of the Notification Hub.