Optimizing Cloud Strategies: A Cloudonomics Perspective on Cost, Value, and Efficiency

Abstract

Cloud computing is a fundamental part of the IT industry, providing scalability, adaptability, and cost-efficiency. However, managing cloud expenses remains a significant challenge for organizations. This paper explores strategies for reducing costs, focusing on the balance between expenditure, value, and performance from a cloudonomics standpoint. We examine key optimization methods, including pricing structures, resource distribution strategies, and graph-based techniques, supported by real-world examples from industry leaders such as Amazon Prime Video, Pinterest, and financial institutions. Additionally, we discuss the role of emerging technologies like Artificial Intelligence (AI) and Machine Learning (ML) in boosting cloud efficiency. The paper concludes by identifying future research opportunities, emphasizing the potential of automated monitoring, advanced resource management, and eco-friendly cloud computing practices.