Understanding FinOps: Optimizing Cloud Costs

💸FinOps is the combination of finance and devops, focused on managing and optimizing cloud costs.

🌐FinOps is about collaboration between business and engineering, tying cloud spend to business value.

📚The FinOps Foundation offers training and certification courses to help professionals understand and implement FinOps.

📊The FinOps life cycle consists of three phases: inform, optimize, and operate, with continuous improvement.

🔧Building a custom platform for managing cloud costs can provide flexibility and align with specific financial requirements.

What is FinOps?

—FinOps is the combination of finance and devops, focused on managing and optimizing cloud costs.

Why is FinOps important?

—FinOps helps companies tie cloud spend to business value, ensuring the most efficient use of resources.

What training is available for FinOps?

—The FinOps Foundation offers training and certification courses to help professionals understand and implement FinOps.

What is the FinOps life cycle?

—The FinOps life cycle consists of three phases: inform, optimize, and operate, with a focus on continuous improvement.

Should I build or buy a platform for managing cloud costs?

—The decision depends on factors such as scale, requirements, and resources. Building a custom platform provides flexibility and alignment with specific financial needs.

00:02In this video, the speaker introduces FinOps, a combination of finance and devops focused on managing and optimizing cloud costs.

01:54FinOps is important because it helps companies tie cloud spend to business value, ensuring the most efficient use of resources.

03:40The FinOps Foundation provides training and certification courses for professionals looking to understand and implement FinOps.

06:31The FinOps life cycle consists of three phases: inform, optimize, and operate, with a focus on continuous improvement.

09:52When considering a platform for managing cloud costs, the decision of whether to build or buy depends on factors such as scale, requirements, and resources.