Datadog Introduces Cloud Cost Management
Datadog (NASDAQ: DDOG) has introduced its Cloud Cost Management tool, designed to unify cost and observability data. This enables finance, FinOps, and engineering teams to correlate cloud spend with resource usage efficiently. As cloud migration intensifies, managing costs becomes vital; Gartner estimates that by 2024, 60% of leaders will face cloud cost overruns. This new tool aims to enhance cost visibility and improve decision-making. Currently available for AWS, multi-cloud support is expected in early 2023.
- Launch of Cloud Cost Management tool enhances cost visibility for finance and engineering teams.
- Helps organizations attribute spend at granular levels, leading to potential cost savings.
- The tool integrates into existing workflows, facilitating real-time monitoring of cloud costs.
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The new product is the first to unify cost and observability data for finance, FinOps and engineering teams to understand and take control of cloud costs
NEW YORK, Oct. 19, 2022 /PRNewswire/ -- Datadog, Inc. (NASDAQ: DDOG), the monitoring and security platform for cloud applications, today announced the general availability of Cloud Cost Management, which shows an organization's cloud spend in the context of their observability data. This allows engineering and FinOps teams to automatically attribute spend to applications, services and teams, track any changes in spend, understand why those changes occurred and include costs as a key performance indicator of application health.
As organizations continue to migrate their workloads to the cloud, controlling cloud spend has become increasingly important. However, reconciling what resources an application is using with the cost of those resources has required substantial manual work to correlate data across multiple point solutions. As a result, Gartner planning assumptions estimate that by 2024
Cloud Cost Management addresses this challenge by unifying observability and cloud data to provide finance, FinOps and operations teams with detailed cloud spend reports. Teams now have the ability to drill down and investigate changes in cloud spend by cost center, application, service and resource. And as Cloud Cost Management is part of the Datadog platform, engineers can do this as part of their existing workflows, bringing an additional level of cost awareness to their work.
"Best practices are important, but there is no substitution for real measurement and cost optimization. Datadog Cloud Cost Management helped us attribute spend at a granular level over dozens of accounts to achieve significant savings. It also enabled us to bring cost data adjacent to operational metrics in a familiar environment for our engineering teams to monitor cost as part of overall service health," said Martin Amps, Principal Engineer at Stitch Fix.
"As the shift to the cloud accelerates so does the need for organizations to rightsize their cloud spend," said Yrieix Garnier, VP of Product at Datadog. "Datadog Cloud Cost Management helps organizations do this by improving cost visibility across organizations so engineering, FinOps and finance teams can work together to make better business decisions about their cloud usage."
Cloud Cost Management helps teams:
- See cloud costs directly in engineers' existing workflows: Engineers can view cloud costs in their existing workflows to understand how they are driving cloud costs across their organization.
- Understand cost changes: Use observability data—CPU and memory utilization alongside instance costs or the number of reads and writes to S3 buckets along with their associated sizes and costs, for example—to automatically surface cost changes and help teams understand why changes have occurred.
- Take ownership of costs: Use flexible, out-of-the-box dashboards and powerful data visualization to make cost data an easy-to-understand metric for engineering teams as they monitor the health and performance of their services.
Cloud Cost Management is generally available for AWS customers, with multi-cloud support coming in early 2023. To learn more, please visit: https://www.datadoghq.com/product/cloud-cost-management/
Datadog is the monitoring and security platform for cloud applications. Our SaaS platform integrates and automates infrastructure monitoring, application performance monitoring and log management to provide unified, real-time observability of our customers' entire technology stack. Datadog is used by organizations of all sizes and across a wide range of industries to enable digital transformation and cloud migration, drive collaboration among development, operations, security and business teams, accelerate time to market for applications, reduce time to problem resolution, secure applications and infrastructure, understand user behavior and track key business metrics.
This press release may include certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended including statements on the benefits of new products and features. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control, including those risks detailed under the caption "Risk Factors" and elsewhere in our Securities and Exchange Commission filings and reports, including the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 8, 2022, as well as future filings and reports by us. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.
Contact
Dan Haggerty
press@datadoghq.com
1 Gartner, (March 2022), How to Build a Cloud Migration Cost Estimate
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SOURCE Datadog, Inc.
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