Cloud cost monitoring and forecasting: issues and challenges

Abstract

Cloud platforms are revolutionizing big data processing, but they also present significant challenges, particularly in cost management. As organizations move from on-premises solutions to cloud-based infrastructures, they often face unexpected costs due to the increasing volumes of structured, semi-structured, and unstructured data they collect and consume. Overcoming this challenge requires a thorough understanding of cost drivers, effective financial management practices, and strategic planning. This article examines the factors that influence the cost of cloud-based data processing and explores financial management best practices that maximize return on investment. It emphasizes the importance of adopting cost optimization strategies tailored to the unique needs of organizations operating in different industries. In addition to financial considerations, the article examines how cloud platforms enable marketing transformation through campaign automation, enhanced analytics, and personalization of the customer experience. These capabilities not only improve operational efficiency, but also drive greater customer engagement and loyalty. The research evaluates the challenges and opportunities associated with cost optimization in cloud systems. It highlights types of forecasts, optimization processes, and monitoring methods as critical components of achieving financial efficiency. A comprehensive three-step approach to effective financial management is proposed, focusing on understanding, controlling, and optimizing costs. In addition, the article evaluates the tools and solutions offered by cloud service providers, providing actionable insights for organizations to gain better control over their expenses. By integrating perspectives from both the financial and marketing dimensions, the study demonstrates how cloud-based systems can serve as a cornerstone for business innovation and growth. It concludes with practical recommendations for leveraging cloud platforms to improve operational and marketing efficiency while maintaining cost transparency and predictability.