Which AWS tool service will help you get a forecast of your spending for the next 12 months?
How do I estimate the cost of my planned AWS resource configurations?Last updated: 2021-11-12 Show
I want to provision AWS resources. How can I estimate how much my AWS resources will cost? ResolutionUnderstand the principles of AWS cloud pricingMost AWS services offer pay-as-you-go pricing, so you pay for only what you use each month. For more information, see AWS pricing. Each AWS service has its own pricing model. For more information, see Cloud Services pricing. Estimate your AWS billingDid this article help? Do you need billing or technical support? AWS support for Internet Explorer ends on 07/31/2022. Supported browsers are Chrome, Firefox, Edge, and Safari. Learn more » Establish cloud budgets and forecasts: Customers use the cloud for efficiency, speed and agility, which creates a highly variable amount of cost and usage. Costs can decrease with increases in workload efficiency, or as new workloads and features are deployed. Or, workloads will scale to serve more of your customers, which increases cloud usage and costs. Existing organizational budgeting processes must be modified to incorporate this variability. Adjust existing budgeting and forecasting processes to become more dynamic using either a trend-based algorithm (using historical costs as inputs), or using business driver based algorithms (for example, new product launches or regional expansion), or a combination of both trend and business drivers. You can use AWS Cost Explorer to forecast daily (up to 3 months) or monthly (up to 12 months) cloud costs based on machine learning algorithms applied to your historical costs (trend based). With Amazon Forecast, you pay only for what you use; there are no minimum fees and no upfront commitments. There are four different types of costs to consider when using Amazon Forecast:
Free TierFor the first two months of using forecast, customers receive up to 100,000 forecast data points per
month; up to 10 GB of data storage per month; and up to 10 hours of training per month. Pricing tables*Table 1: Generated Forecasts Data Points tiered pricing table Note: Customers generating forecasts using a predictor which has been trained with the legacy CreatePredictor API will continue to get charged $0.60 per 1,000 time series, which is the combination of items and dimensions, for reach quantile. Forecasts are rounded up to the nearest thousand. * *Table 2: Forecast Explanations tiered pricing table Pricing examplesPricing example 1 - Product Demand ForecastingLet’s say you own a clothing company and have 1,000 items selling in 50 stores around the world and are forecasting for product demand for the next 7 days at 1 quantile. Each combination of
an item and store location equates to one time series, so you’ll have 50K (1000 items x 50 stores) time series to forecast. Since you are forecasting at 1 quantile, you are forecasting for a total of 50K forecasts (50K time series x 1 quantile). At 7 days ahead forecasts with a weekly forecasting frequency, you are forecasting for 1 data point in the future with a total forecast data points of 50K (50K forecasts x 1 data point). Now let’s assume the following change: You are now forecasting 7 days ahead forecasts with a daily forecasting frequency. This translates to forecasting for 7 data points in the future with a total forecast data points of 350K (50K forecasts x 7 data points). Pricing example above is based on a single forecasting job in a month Pricing example 2 - Capacity PlanningLet’s say you own an energy company. You have 5K resident customers who use both gas and
electricity. Each combination of resident customer and types of energy equates to one time series, so you’ll have 10K (2 energy types x 5K resident customers) time series. Let’s assume you need to plan 24 hours ahead with an hourly forecast at 1 quantile, so you are forecasting a total data points of 240K forecast data points (10K time series X 1 quantile x 24 hours). You are adding a Price attribute and have selected to add the Holidays and the Amazon Forecast Weather Index built-in
datasets for predictor training. Let’s say that you are interested in learning what attributes are driving forecasts for your top 100 gas customers. The cost for forecast explainability will be as follows. Pricing example above is based on a single forecasting job in a month Additional pricing resourcesLearn more about Amazon Forecast Refer to developer guide for instructions on using Amazon Forecast.  Sign up for a free account Start building in the console Get started building with Amazon Forecast in the AWS console. AWS support for Internet Explorer ends on 07/31/2022. Supported browsers are Chrome, Firefox, Edge, and Safari. Learn more » What AWS forecasting tool can be used to view charts of spending data for up to the past 13 months?AWS provides a free reporting tool called AWS Cost Explorer that enables you to analyze the cost and usage of your EC2 instances and the usage of your Reserved Instances. You can view data up to the last 13 months, and forecast how much you are likely to spend for the next three months.
Which AWS service or tool will provide this forecast?AWS Cost Explorer now gives you the ability to create custom usage forecasts to gain a line of sight into your expected future costs.
Which tool or feature provides a report to forecast AWS billing costs for the next 3 months?Customers can use AWS Cost Explorer to estimate their cost and usage in a custom time range within the next 3 months (daily granularity) or within the next 12 months (monthly granularity).
Which tool is used to estimate AWS costs during budgeting?To estimate a bill, use the AWS Pricing Calculator. Choose Create estimate, and then choose your planned resources by service. The AWS Pricing Calculator provides an estimated cost per month.
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