Cloud cost management involves monitoring and controlling the expenses associated with using cloud services. It includes practices such as setting budgets, tracking spending, and identifying areas where costs can be reduced. Cloud cost management is focused on ensuring that organizations are using cloud resources efficiently and effectively while staying within budget. Cloud cost monitoring is focused on tracking and analyzing cloud costs, both are important for effective cloud cost management and can help organizations save money and improve their overall cloud performance. Cloud cost optimization is a combination of strategies, techniques, best practices, and tools that not only help reduce cloud costs but also maximize the business value of using the cloud.
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