Maximize Savings with AWS Cost Optimization Reports in Cloudshot

Optimize Your Cloud Cost with Cloudshot

The AWS Cost Optimization Report in Cloudshot provides essential insights into resource utilization and cost management, with a specific focus on Elastic IP monitoring and optimization.
Steps:

1. Go to the 'Cloudshot' Menu.
2. From the menu, select 'AWS Cost Optimization Report'.
3. From the dropdown list, select the specific Elastic IP address you want to analyze.
4. Click on the Refresh Data button to ensure the latest cost and usage information is displayed.

The interface presents a clear Resource Overview with three critical metrics:

• Total EIPs (3 resources allocated):
  This shows the complete count of Elastic IP addresses provisioned in your AWS account, whether they're being used or sitting idle.
• EIP Monthly Cost ($10.95 per month):
  This represents your total monthly spending on all Elastic IPs, calculated at $3.65 per IP for three IPs, which adds up to $10.95.
• Unused EIPs (2 resources identified):
  Out of your three Elastic IPs, two are currently not attached to any running instances, meaning you're paying for resources that aren't providing any value to your infrastructure.

The dashboard shows three main metrics at the top:
2. Second Section - Detailed Metrics: 

• Current Monthly Cost ($10.95):
  This is your actual current spending on Elastic IPs, calculated from all three IPs at $3.65 each, totaling $10.95 per month.

• Potential Savings ($7.30):
  This represents the money you could save by releasing or properly utilizing the two idle Elastic IPs, as each unused IP costs $3.65 ($3.65 × 2 = $7.30).
• Resource Efficiency (33.3%):
  This percentage indicates that only one out of your three Elastic IPs is actively being used, thus only a third of your resources are being efficiently utilized (1 active IP ÷ 3 total IPs = 33.3%).
  
  

The Elastic IPs Details table provides granular information about each IP:

• Two Elastic IPs (13.201.113.199 and 15.206.154.177) are currently unassociated and idle.
• Each unused IP incurs a cost of $3.65 monthly.
• One IP (3.7.165.80) is properly associated with a private IP (172.31.147.68) and actively in use.
• The associated IP maintains the same cost structure at $3.65 per month.

3. Idle Resource Analysis: Idle Resource Analysis popup that appears when clicking the details icon:

• Elastic IP Idle Reason(s): The warning shows this Elastic IP is completely unused - it's not connected to any EC2 instance or network interface, which is why AWS is charging you for it.
• Cost Analysis: You're being charged $3.65 monthly for this idle IP address. This cost would be zero if the IP was attached to a running EC2 instance, making it a completely avoidable expense.
• This analysis tool helps identify exactly why you're incurring charges and what action you need to take - either associate the IP with a running instance or release it if it's no longer needed.

After removing those two unused Elastic IPs, we've transformed our AWS infrastructure into a model of efficiency. Here's what's changed:

• Total IP Reduction:
  Previously we had 3 IPs costing $10.95 monthly, but by removing 2 unused IPs, we now have just 1 active IP costing $3.65 - saving $7.30 per month while maintaining full functionality.
• Unused IP Cleanup:
  We eliminated all waste by removing the 2 unused IPs, achieving perfect resource utilization with our single active IP that's properly connected to a running instance.

The IP Details table now shows just one clean entry:

• One active IP (3.7.165.80) properly connected to a private IP.
• Everything marked as 'Associated' and 'Active'.
• This is exactly what we want to see - every resource being used efficiently.

This is a perfect example of successful cost optimization - we cut out the waste while keeping everything we actually need.

For ongoing optimization, regularly check your AWS Cost Optimization Report to identify similar opportunities for cost savings across your infrastructure.

Review your Elastic IP allocations regularly to identify and release unused IPs, potentially saving up to $7.30 monthly in this case while maintaining optimal resource efficiency.

Take Control Today:

Optimize your Elastic IP management and control AWS costs effortlessly with Cloudshot. Track IP assignments, identify unused resources, and transform your cloud spending into a cost-efficient operation.
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