The savings metric every FinOps team needs to know: effective savings rate

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The savings metric every FinOps team needs to know: effective savings rate - BetaNews

Quick Summary:

Rate optimization is a cloud saving approach that involves paying the lowest rate possible for a given unit (hour, GB, etc.) of cloud usage via strategic use of commitment-based discounts, such as AWS Savings Plans/Reserved Instances and Google Cloud Platform Committed Use Discounts.

To measure return on investment (ROI) from these discounts, organizations must understand and benchmark their Effective Savings Rate (ESR).

ESR is the "North Star" rate optimization metric which incorporates utilization, coverage, and discount rates into a single, comprehensible figure that can be compared against industry peers.