Financial Management
AWS Budgets
What it is:
AWS Budgets is a cost management tool that allows you to set custom budgets and receive alerts when your usage or spending exceeds thresholds.
Why it matters:
- Helps prevent unexpected cost overruns in AI/ML workloads
- Supports budgeting for specific services, linked accounts, or projects
- Allows email or SNS alerts when nearing or exceeding your budget
Typical Use Cases:
- Monitoring SageMaker or Bedrock cost usage
- Creating budgets per department or project
- Alerting finance or DevOps teams when limits are exceeded
AWS Cost Explorer
What it is:
AWS Cost Explorer is a visual tool for analyzing and tracking your AWS spending over time. It lets you explore usage by service, region, account, or tag.
Why it matters:
- Enables granular analysis of cloud costs
- Identifies trends, anomalies, and opportunities for savings
- Helps teams understand the cost impact of AI/ML workloads
Typical Use Cases:
- Visualizing SageMaker and GPU usage cost trends
- Identifying unused resources contributing to waste
- Tagging AI/ML workloads to understand specific project spend