Newvem, a service/platform which analyzes Amazon Web Services usage, has released a new tools in its KnowYourCloud Analytics web application that aims to help enterprises make better use of the cloud.
The new Reserved Instances Decision Tool helps customers of Amazon Web Services choose which On-Demand Instances should be moved to Reserved Instances - based on flexibility, availability, and cost considerations - by providing insights into cloud usage patterns. The Newvem platform analyzes past usage to determine the baseline level of usage they will need in the future, types of instances they will need to meet business requirements and the best geographic locations of those instances.
Amazon has been promoting Reserved Instances for some time over its On-Demand instances (the pay-as-you-go model). Reserved Instances however offer even more significant cost savings and assured capacity but do require long term commitments to Amazon (and some complex decision making by IT). Enter Newvem.
"Newvem's KnowYourCloud Analytics is like Google Analytics for cloud computing," said Zev Laderman, Newvem's co-founder and CEO. "It scans AWS usage patterns and lets AWS users know if they can benefit from Reserved Instances, indicates which parts of their cloud would benefit the most, and offers recommendations on how to execute the move."