Efficient financial operations (FinOps) has become a strategic imperative for organizations seeking to thrive in complexity. As businesses strive to integrate data across disparate sources in real time, the need for comprehensive solutions to streamline data management becomes increasingly vital. Organizations face significant challenges in balancing cost optimization with effective data management practices, while also maintaining peak performance. In this post, we cover how the Denodo FinOps capabilities, running on AWS, provides organizations with unprecedented control over cloud costs.
The Challenges of Traditional Data Management
Traditional data management practices often lead to redundant data replication and inefficient storage strategies, exacerbating the complexities of budget planning. According to IDC, only 10% of the Global DataSphere consists of unique data annually, with the majority being replicated. Organizations must navigate numerous storage options with varying features and costs, making it difficult to optimize expenses while maintaining data accessibility. Effective analysis of data management costs requires an understanding how each data source serves the organization, who accesses it, and how frequently. This is where the Denodo Platform‘s FinOps capabilities, running on AWS, provides exceptional value.
Unveiling the Denodo FinOps Dashboard
At the heart of Denodo’s FinOps capabilities lies the Denodo FinOps Dashboard, a powerful tool that, when running on AWS, provides essential insights into data-access patterns across all data consumers and sources within an organization’s AWS cloud environment. With these insights, businesses can optimize their data strategies, ensuring peak performance while minimizing costs.
Accelerating Cloud Adoption with Minimal Disruptions
A significant advantage of implementing the Denodo FinOps on AWS is the ability to monitor and accelerate AWS cloud adoption while minimizing business disruptions. By streamlining the migration process and enabling seamless integration with existing systems, organizations can embrace the AWS cloud with confidence, cutting valuable costs with a pay-as-you-go consumption model for reporting and analytics use cases, enhancing operational efficiency
Optimizing Resource Efficiency and Cost Transparency
Effective resource allocation forms a cornerstone of successful data management, and Denodo FinOps excels by providing budget accountability and by assisting organizations to pinpoint underutilized resources, enabling prompt reallocation to ensure data processes operate smoothly and economically.
Enhancing User Engagement and Decision-Making
In the realm of FinOps, understanding and optimizing user engagement is a critical component of success. By leveraging Denodo FinOps on AWS, organizations can monitor user interactions with data and analytics tools through comprehensive dashboards, and track key performance indicators (KPIs) related to user engagement, adoption rates, and other essential metrics. With these insights, businesses can identify how users are interacting with their AWS data assets, leading to more informed decisions about resource allocation and tool enhancements.
Enabling Seamless Compliance and Strong Security
Compliance with financial regulations and standards is non-negotiable for any organization. Denodo FinOps on AWS offers robust data governance and security measures, keeping all financial data accurate, consistent, and secure. Leveraging the Denodo Platform’s advanced security features, along with AWS’s governance capabilities (Amazon CloudWatch, AWS CloudTrail), organizations can provide a rigorous approach to data management that helps meet regulatory requirements. This reduces the risk of non-compliance penalties and enhances overall data integrity.
Embracing the Future of FinOps Using Generative AI (GenAI)
As businesses continue to evolve, the demand for innovative financial management solutions leveraging GenAI will grow. Denodo FinOps stands at the forefront of this evolution, offering a powerful solution to meet the demands of today’s financial landscape.
Whether you are looking to optimize your existing financial processes or seeking a comprehensive solution to manage complex financial operations on AWS, Denodo FinOps provides the framework and tools necessary for success in the cloud.
The collaboration between Denodo and AWS represents a paradigm shift in FinOps. By harnessing the power of logical data management and the scalability of the cloud, organizations can unlock new levels of efficiency, cost optimization, and data-driven decision-making. Embrace the future of FinOps and embark on a transformative journey that will redefine the way your organization manages its financial operations.
In summary, see how the Denodo Platform on AWS can drive business agility and cost effectiveness:
- Accelerated on-premises-to-cloud workload migration with minimal business disruption saves costs, including egress costs for reporting.
- Cloud burst workloads are handled via auto-scaling and consumption-based pricing, offered via Agora, the Denodo Cloud Service, available on the AWS Marketplace.
- Automated cloud deployment and scheduling capabilities with embedded integration with Amazon Cloud Watch helps optimize compute, saving IT costs and resources.
- Offload privacy and compliance risks by leveraging the centralized security and data governance framework of the Denodo Platform, enabling data sovereignty and minimizing risks.
- Advanced performance optimization (via caching) and massively parallel processing (MPP) support in the Denodo Platform help minimize data egress and management costs, also providing serverless support in the form of integration with Lambda functions, to accelerate development operations (DevOPs) /development, security, and operations (DevSecOps).
- Use cases such as data marketplaces and API driven data delivery leverage simplified department-charge-back tracking, reducing overall development costs that can be tracked via the FinOps Dashboard.
Get Started with FinOps on the AWS Marketplace
Explore Denodo FinOps using Agora on the AWS Marketplace: Visit the AWS Marketplace and explore the 30-day free trial of Agora to learn more about Denodo FinOps capabilities and how they can enhance your financial operations and data management practices. You can also request a demo to see firsthand how they can provide actionable insights and optimize your cloud financial operations.
