What is Amazon Cost Management? - Amazon Cost Management
Services or capabilities described in Amazon Web Services documentation might vary by Region. To see the differences applicable to the China Regions, see Getting Started with Amazon Web Services in China.

What is Amazon Cost Management?

Welcome to the Amazon Cost Management User Guide.

The Amazon Cost Management console has features that you can use for budgeting and forecasting costs and methods for you to optimize your pricing to reduce your overall Amazon bill.

The Amazon Cost Management console is integrated closely with the Billing console. Using both together, you can manage your costs in a holistic manner. You can use Billing console resources to manage your ongoing payments, and Amazon Cost Management console resources to optimize your future costs. For information about Amazon resources to understand, pay, or organize your Amazon bills, see the Amazon Billing User Guide.

With the Amazon Cost Management console and the Billing console, you can do the following tasks.

Use cases Description Amazon Cost Management feature names Billing console feature names
Organize Construct your cost allocation and governance foundation with your own tagging strategy. -

Amazon Cost Categories

Amazon Cost Allocation Tags

Report

Raise awareness and accountability of your cloud spend with the detailed, allocable cost data.

Amazon Cost Explorer

Amazon Cost and Usage Reports

Access Track billing information across the organization in a consolidated view. -

Amazon Consolidated Billing

Amazon Purchase Order Management

Amazon Credits

Forecast Estimate your resource utilization and spend with forecast dashboards that you create.

Amazon Cost Explorer

Amazon Budgets

-
Budget Keep your spend in check with custom budget threshold and auto alert notification.

Amazon Budgets

Amazon Budgets Actions

-
Purchase Use free trials and programmatic discounts based on your workload pattern and needs.

Savings Plans

Amazon Reserved Instances

Amazon Free Tier

Rightsize Align your service allocation size to your actual workload demand.

Rightsizing Recommendations

-
Inspect Stay up to date with your resource deployment and cost optimization opportunities.

Amazon Cost Explorer

-

Features of Amazon Cost Management

Amazon Cost Explorer

Use case: Report, Forecast, Inspect

Amazon Cost Explorer is a feature that you can use to visualize your cost data for further analysis. Using it, you can filter graphs by several different values. This includes Availability Zone, Amazon service, and Amazon Region, It also includes other specifics such as custom cost allocation tag, Amazon EC2 instance type, and purchase option. If you use consolidated billing, you can also filter by member account. In addition, you can see a forecast of future costs based on your historical cost data.

Documentation: Analyzing your costs with Amazon Cost Explorer

Amazon Budgets

Use case: Forecast, Inspect

Amazon Budgets tracks your Amazon usage and costs. Amazon Budgets uses the cost visualization that's provided by Amazon Cost Explorer to show the status of your budgets. This provides forecasts of your estimated costs and tracks your Amazon usage, including your Amazon Free Tier usage. You can also use Amazon Budgets to create Amazon Simple Notification Service (Amazon SNS) notifications for when you exceed your budgeted amounts, or when your estimated costs exceed your budgets.

Documentation: Managing your costs with Amazon Budgets

Rightsizing Recommendations

Use case: Control

Rightsizing recommendations is a feature that reviews your historical Amazon EC2 usage for the past 14 days to identify opportunities for greater cost and usage efficiency. The feature identifies cost saving opportunities by downsizing or terminating instances in Amazon EC2.

Documentation: Accessing Reserved Instance Recommendations

Savings Plans

Use case: Purchase

Savings Plans offers a flexible pricing model that provides savings on Amazon usage. Savings Plans provide savings beyond On-Demand rates in exchange for a commitment of using a specified amount of compute power (measured every hour) for a one or three year period. You can manage your plans by using recommendations, performance reporting, and budget alerts in Amazon Cost Explorer.

Documentation: What is Savings Plans