Cost Optimization vs FinOps

 Cost Optimization: Look for cost-efficiency and savings. This is Tactical

• Low-hanging fruits (Unused Resources, Unattached Resources, Underutilized Resources)
• Savings Plan
• Lambda and Dynamo DB Optimization

Note: Cost Optimization is a component of Financial Management and as part of this activity, Dream Destinations will recommend a number of cost-saving measures that will be discussed with the <Customer>

FinOps: Establishing efficient financial management on-going practices. This is Strategic.

• Generating comprehensive Cost & Usage Reports
• Conducting Financial Forecasting
• Implementing Cost Optimization Strategies
• Establishing Allocation and Tagging Policies
• Crafting Budgetary Plans
• Defining Key Performance Indicators (KPIs)