Launch of FinOps Hub: Simplified cost management experience

June 20, 2024 | 3 minute read
James DeLoid
Principal Product Manager, OCI Layer Services
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Oracle Cloud Infrastructure (OCI) has consolidated insights from the four cost management services—Subscriptions, Cost Analysis, Budgets, and Cloud Advisor—into one new overview page: FinOps Hub. Businesses can track cloud resource costs more closely than ever. FinOps hub helps practitioners to answer these questions:

  • Are budgets on track?

  • Do we have enough credits left so we don’t pay overages?

  • What resource groups have the greatest impact on cost?

  • Where can I optimize costs?

  • How can I prevent unauthorized spending?

Before the availability of FinOps Hub, finding answers to these questions was difficult with the data needed to answer these questions scattered across four different places in the Oracle Cloud Console.

FinOps Hub summarizes the key information from each area, so you can quickly understand your cloud costs and identify optimization opportunities within your organization.

Top 5 ways to use FinOps Hub

We recommend the following best practice methods for FinOps Hub:

  • Plan:Using monthly budgets to monitor actual and forecasted usage. Budgets are used for nonrecurring initiatives too, such as performance tests.

    Budgets and forecasts on the FinOps overview page

  • Monitor: Subscription usage and historical usage trend. Replenish credits early to mitigate risk of paying for overages.

     

    Subscription usage and available credits

  • Investigate: Resource groups, such as compartments, regions, or services, with the greatest impact on cost. Identify abnormal usage and investigate with Cost Analysis.

    Pie charts showing costs grouped by compartment, region, and service on FinOps overview page

  • Optimize: Resource usage. Cloud Advisor continuously monitors resource utilization looking for efficiency opportunities. If you see $0 potential savings, you’re optimized for now. Usage patterns change quickly. Check FinOps Hub for periodically for updated recommendations.

    Table showing cloud advisor's savings opportunities on FinOps overview pageControl: Usage with compartment quotas preventing unauthorized spending.

Access the FinOps Hub today for answers to fundamental cost management questions quicker than was previously possible. This step is just the beginning! We’re adding more capabilities to this area in the future.

See you at FinOps X

Oracle Cloud Infrastructure remains committed to helping our customers make the right decisions around optimizing cloud spend and addressing the most pressing cost management challenges of today and tomorrow. We’re anticipating yet another successful FinOps X conference, so connect with us, a FinOps expert will reach out to schedule a meeting during the conference!

For more information, see the following resources:

James DeLoid

Principal Product Manager, OCI Layer Services


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