On-Demand compute is expensive. Reserved Instances (RI) offers 30-60% discounts, yet many businesses either forgo the benefit or achieve a savings rate well below the potential. In addition, managing the on-going changes and predicting long term use is challenging and time-consuming for most enterprises. Organizations quickly find that matching commitment spend to engineering demands is extremely challenging. A solution that allows DevOps to manage infrastructure and enables Finance leaders to control cost is the best possible end game.
Spotinst Eco is a Flexible Reserved Capacity Management Service. Using deep analytics, forecasting models and the Reserved Instance Marketplace, Eco will automatically purchase the optimal fleet of RIs for you. Eco uses real-time tracking of RI utilization to identify any decrease in usage so that it can be sold back to the Marketplace if needed.
Respond to changes in utilizationLowering the hourly cost of compute is great, but what if compute demands change? Eco constantly monitors accounts for changes and will actively execute RI Strategies to ensure that capacity purchases are always covering as much compute as possible.
Diversify commitment lengthsReserved Instances lower the hourly cost of compute, but this comes with a spending commitment over a changing period of time. Spotinst’s Eco acts as a RIs broker, utilizing the MarketPlace, mix and match commitment lengths from 2-36 months so that utilization will be optimal with as little commitment as possible.
No engineering effortReserved Instances are a billing construct, engineers don’t have to change anything about the compute or applications they use today. Once enabled Spotinst Eco will continually track usage as well as build forecasting models to constantly manage the lifecycle of RIs for you. One of the most important aspects of any RI Portfolio is the initial inception. Ensuring your RI fleet is well built from the beginning will determine your path to savings in the future. With that said, Eco will work with any existing RI portfolio and build strategies that account for any situation.
Spotinst Marketplace CommunitySpotinst manages hundreds of accounts and hundreds of thousands of Reserved Instances. This customer base and acquired knowledge help Spotinst’s Eco to quickly match customers who have immediate needs to buy and sell reservations on the Marketplace, acting as a perfect RI Broker for private deals as well. This enables Spotinst to understand and control market liquidity even before listing.
How it Works
Connect your AWS Account
Eco takes 2 minutes to set up and only needs access to a single AWS master account to operate.
Eco loads all available cost and usage reports then analyze each line item by dimensions such as region, instance family, tags, lifespan and scale. In addition to account data, Eco brings years of detailed marketplace and industry usage data, to bolster strategies for each region, OS, and instance type you use. Results are aggregated to provide a holistic view of on-demand use across all of your linked AWS accounts.
Eco builds on analytics to generate optimal strategy plans. Strategies are tailored solutions that combine any number of RI purchase options to keep commitment terms low and utilization high. This means that you are saving the highest amount possible while retaining the most flexibility for the future.
With a complete view of cloud usage, Eco begins systematically building the foundation of your RI Portfolio. Constantly tweaking strategies based on market availability and new data, Eco will continuously buy, sell and manage your RIs to maximize savings and ensure a well-balanced mix of RI types.
Forecast powered by Machine LearningAs smart as a human can be, forecasting cloud commitment in an increasingly complicated cloud environment is inefficient, even when using the best reporting tools out there. Inefficiencies arise even for the most talented teams. Eco continually analyzes millions of data points to identify the makeup of your ideal RI fleet.
Full Lifecycle managementAnyone can make recommendations, Eco takes action. Eco actively manages the planning, purchasing and reselling of RIs. The market is continuously monitored for relevant opportunities and terms are intentionally staggered to provide the best flexibility with the future in mind.
Just in time RIsBy creating a well-balanced mix of RIs, Eco aims to always have portions of your reservations expiring or up for renewal at any given time. This continuous, natural reduction of RI commitment levels allows for constant modifications to your RI strategy to adapt to changing needs and usage.
Reserved Instance perfectly filled TetrisWhat makes Eco unique is the way it blends different types of RIs to take advantage of the unique strengths each offer. Eco will mix a blend of Standard and Convertible RIs with varying term lengths to provide coverage for each area of your cloud usage. Taking in factors such as flexibility, market volume, historical and predicted usage, Eco identifies the correct blend to maximize savings while providing the most flexibility to handle future needs.
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Head of Production Engineering