A recent study by Arlington Research for Virtana revealed that the majority of organizations are overspending on the cloud.
Indeed, it was reported that most companies are spending way too much on the cloud. This is due to a lack of visibility across multiple cloud workloads which leads to a waste of time and cost inefficiencies. 84% of respondents stated that this is an issue with workloads deployed across multiple public cloud infrastructures.
With the pandemic accelerating organizations’ shift to the cloud, many businesses found themselves unable to handle the costs that came with it. There was an important disconnect between perception and performance.
More than three-quarters of respondents declared being adept at identifying unused resources, configuring real-time cost alerts, and understanding cost allocations, while four in five rated themselves highly at forecasting usage patterns and predicting long-term spending. However, less than half actually had billing visibility tools and usage dashboards.
Moreover, it was also revealed that more than two-thirds of all companies felt that their teams worked in silos, which limited their ability to adapt and collaborate. In order to efficiently manage cloud operations, it is vital that businesses are prepared for it.