AWS launches Cost Optimization Hub to help curb cloud expenses

As part of its ongoing efforts to help its enterprise customers rein in cloud costs, AWS on Monday announced several new updates at its re:Invent 2023 conference.

The new updates include a new AWS Billing and Cost Management feature, dubbed AWS Cost Optimization Hub, which makes it easy for enterprises to identify, filter, aggregate, and quantify savings for AWS cost optimization recommendations.

The new Hub, according to the cloud services provider, gathers all cost-optimizing recommended actions across AWS Cloud Financial Management (CFM) services, including AWS Cost Explorer and AWS Compute Optimizer, in one place.

It incorporates customer-specific pricing and discounts into these recommendations, and it deduplicates findings and savings to give a consolidated view of an enterprise’s cost optimization opportunities, AWS added.

The feature is likely to help FinOps or infrastructure management teams understand cost optimization opportunities.

Cost optimization within AWS Billing

The new Hub can be enabled from inside the AWS Billing and Cost Management Console, but takes 24 hours to recommend any actions, AWS said, adding that the recommendations are refreshed every 24 hours.