Do you feel that your business is overspending on cloud storage? Maybe no one knows all the cloud accounts your company has open. Or no one can fully explain the company’s monthly bill. The pricing may seem straightforward, but you look at your latest bill and fail to comprehend the extra charges.

Every organization can have a cloud storage spending problem. This is because everyone is using the cloud to meet their needs, and no one is concerned about the resulting costs to the business. It’s also challenging to tie spending back to your business needs. The result is that organizations like yours end up spending far more than they should. This article will show you how to control cloud storage costs.

1. Only collect the data you need

Make it a policy to back up only data that adds value to your business. Many data files are irrelevant to the future of your business, yet they are uploaded to the cloud. Uploading unnecessary data to the cloud will only lead to increased storage costs. For example, your employees may back up photos and videos taken on their phones. Also, company parties and anniversary events will keep the storage volumes high.

Find a place to store such irrelevant data to reduce your spending. A great way to ensure that you don’t collect too much data is by using special tools that will collect data strictly based on your inquiry.

2. Purchase the right storage tier

Every cloud storage provider offers a variety of storage tiers. But most businesses tend to choose the fastest and most expensive one without considering costs. You might assume that if it costs more, then it must be better.

The GB/month tier price is based on how often you need to access your data. “Hot” storage tiers allow you to access data frequently, while “cold” storage tiers allow you to access your data infrequently.

Hot storage tiers can be priced as much as five times the cost of cold storage tiers. So, consider both the cost and storage requirements when choosing a storage tier. You may not need to access your data as frequently as the storage tier you subscribed for allows you to.  

3. Right-size your storage volume

If you are going to store high amounts of data per month, you may consider higher-level cloud services like Google, Oracle, and VMware. But if you have low storage requirements, then a local provider may be your best option.

You don’t want to waste money on the unused storage volume. So, ensure you know your company’s storage volume requirements before matching it with the right storage tier. When your needs increase, you can migrate to bigger storage tiers.

4. Deduplicate data before uploading

Deduplication of data is the process of compressing data by eliminating its copies. It involves identifying unique data and byte patterns, then deleting any match that’s detected.

Cloud officers can analyze your existing data before uploading it to the cloud to reduce storage costs. This will reduce the amount of data stored in the cloud, lower network traffic, and reduce backup recovery costs.  

5. Manage outbound data flows

Moving data from the cloud costs money. The cost of transferring data depends on the location of the source and the destination of the cloud servers. Bringing data into the cloud is usually free but moving it outside your provider’s network is expensive.

To reduce outbound data flows, ensure that you store data close to where it is used to eliminate the need to move it elsewhere. And if you don’t intend to use data for a long time, move it to the archive tier.

6. Monitor storage tier pricing

Pricing for both storage and data transfers usually includes additional costs based on consumption. If you reach a specified level as per the terms and conditions of the cloud provider, you can negotiate better prices.

Also, identify the criteria by which discounts are offered. Some cloud providers may never inform you about the deals you are eligible for because they want you to spend more money.

Conclusion

Overspending on cloud storage may increase the costs of running your business. So, you should constantly be looking for ways to reduce storage costs. And that begins by backing up only data that impacts the future of your business and deleting irrelevant data. Consult a cloud officer to help you choose the right storage tier for your business needs.

Also, monitor your storage tier pricing to identify any discounts you may be eligible for. Deduplicate data to eliminate extra copies before moving them to the cloud to reduce your storage volume requirements. Finally, manage outbound data flows by storing data that you need to access frequently in the right storage tier and archiving the data you may only occasionally need.