Which of the following is a key factor impacting cloud cost management?

Resource utilization and service consumption levels are critical factors impacting cloud cost management because they directly correlate with how much a business spends on cloud services. Cloud computing operates on a pay-as-you-go model, meaning organizations are charged based on the resources they consume. This includes aspects such as storage, compute power, and network bandwidth.

Understanding and monitoring resource utilization can help organizations identify areas where they can optimize spending. For example, if a business is underutilizing its cloud resources, it might be paying for services that it doesn’t fully need, leading to unnecessary costs. Conversely, if usage is high but aligned with business needs, the costs may be justified.

Effective cloud cost management strategies often involve analyzing usage patterns, implementing resource scaling (up or down based on current needs), and using tools or dashboards to track service consumption levels. By focusing on these areas, organizations can make informed decisions to optimize their cloud expenditure.