How to Prevent Cloud Spend Waste –a $20 Billion Problem
Predecir is pleased to announce the availability of a new, powerful predictive analytics platform to address a $20 billion problem for businesses: inefficient cloud spending management, otherwise known as “cloud waste.” PREDECIRx utilizes artificial intelligence (AI) and machine learning (ML) technology to dramatically reduce inefficient cloud management, which according to Forbes, now accounts for 23% of total cloud spending. According to the Cloud Spot Survey, given the power and flexibility offered by cloud management, 82% of IT leaders plan to increase their cloud usage. At the same time, many organizations now have a need for additional support of remote workers through cloud technologies. In fact, according to Flexera, 59% of enterprises expect cloud usage to exceed prior plans due to COVID-19. The challenge for these organizations is in the effective capture of these cloud benefits, without spending for capacity they do not need. In Flexera’s survey, 73% of organizations plan to optimize existing use of cloud (cost savings), making it the top initiative for the fourth year in a row. "While public cloud vendors offer tools to manage their cloud services, Predecir provides actionable analytics to increase efficiency in resource utilization, hence providing significant cost savings," said Satish Kambalimath, Founder and CEO, Predecir. “We at Predecir solve the wasted cloud spend problem through our powerful analytics engine that utilizes AI and ML to provide both short-term forecasting and long-term prediction to reduce spend by 30% or more for our customers." PREDECIRx supports industry leading cloud management vendors, including Amazon AWS, Microsoft Azure, and Google Cloud. The platform also supports private and hybrid cloud deployments. PREDECIRx leverages cloud monitoring data from the entire application stack for real time utilization within AI/ML models. This architecture provides dynamic forecasting modules or “prescriptions” that drastically reduce costs for its customers. Through Predecir’s unique model of Visibility, Forecasting, Prediction, and Prescription, customers are assured that their cloud dollars are well spent.