If you find out about abnormal spending trends from a dashboard or waiting for a budget alert, then you are detecting issues too late…the damage is already done.
We are excited to announce the launch of OCI Cost Anomaly Detection.
OCI Cost Anomaly Detection is a new no-cost feature that:
- Continuously monitors daily cloud spend across all services and regions (by default) providing peace-of-mind.
- Identifies cost anomalies that may require further investigation eliminating the need for ad-hoc monitoring.
- Proactively sends you customizable, targeted email notifications and anomaly insights minimizing resolution time.
What to expect
- More predictable cloud costs with fewer abnormal cost surprises.
- Reduced risk of exceeding budgets and spend targets.
- Greater confidence in cloud financial operations.
How it works
OCI’s Cost Anomaly Detection uses a machine learning algorithm to forecast daily cost with built-in intelligence accounting for daily, weekly, yearly, and holiday seasonality. User-provided Cost Anomaly Feedback further improves the model’s accuracy minimizing false positives.
Cost Anomaly Detection’s Cost Monitors continuously compare the summarized daily cost for all resources matching the cost monitor’s filter criteria to the forecasted cost and create Cost Anomaly Events when costs vary from what’s expected based on the algorithm’s internal anomaly score.
Default Cost monitors are automatically created monitoring resources grouped by each Tenancy, cloud service, and region.
Create your own custom Cost Monitors using filters based on compartment and/or tags to monitor a specific resource(s), budget, environment, or application.
When an anomaly is detected, Cost Anomaly Details inform you of resource changes that likely caused the anomaly.
Configure a Cost Anomaly Alert Subscription on your Cost Monitors for proactive notifications of anomalies detected that exceed your defined Cost Anomaly Alert Threshold minimizing noisy alerts and focusing your attention on the highest priority events. Thresholds are defined as an absolute value (e.g. +/- $100) and/or as percentage daily cost variance when comparing the forecast to the actual cost for each
Ready to drive cloud financial excellence?
Get started with Cost Anomaly Detection today, and ensure your journey to the cloud is cost-effective, predictable, and secure.