What is a Savings Opportunity?

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What is a Savings Opportunity?

A savings opportunity is a recommended change to an over-provisioned or abandoned cloud resource to reduce your cloud spending. When enabled, Kion scans your cloud environment regularly to automatically suggest these savings opportunities based on the size of your cloud resources and their utilization over time. Savings opportunities help you only pay for what you actually need.

Savings opportunity checks come pre-configured within Kion. To enable savings opportunities, navigate to System Settings > Application Settings > Savings Opportunities. From here, you can select which checks you would like to regularly run. For more information, see Savings Opportunities Settings.

Once Kion identifies a savings opportunity, you can:

  • Apply the savings opportunity from your cloud provider's management portal and mark the opportunity as applied.
  • Dismiss the opportunity if you do not wish to make the change.
  • Stop or terminate the resource from within Kion.

There are two different types of savings opportunities that Kion can suggest: 

  • Rightsizing Opportunity. Recommendations to adjust a resource's size to better fit your utilization patterns. For example, we might recommend that you change an instance type from t2.medium to t2.small if the resource is consistently using less than 75% of the current max t2.medium capacity. We also show you resources that would be cheaper and more performant if you upgraded to the newest version in the instance family. 
  • Decommissioning Opportunities. Recommendations to temporarily stop or permanently terminate a resource that is not being utilized. For example, we might recommend that you stop or terminate a resource that hasn't been used in the last six months.

Once you turn on savings opportunities in the system settings, you can view your opportunities on the Savings Opportunities Overview.

 

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