What is the biggest request being posed to Amazon Web Services Inc. these days? It has to do with reducing costs around cloud and to learn more about how peers in the space are working to do the same, according to the company.

So how can relationships with AWS partners help realize cloud cost optimization, and how can companies only pay for what they need?

That will be a key area of focus during theCUBE’s coverage of the AWS Savings in the Cloud event, on July 25. The event will include insights from various AWS partners specializing in cloud cost optimization, including Apptio Inc. and Spot by NetApp.

When it comes to Apptio, the company has focused on providing companies with comprehensive insights into their cloud spending to optimize investments, rather than just cutting costs.

“As engineers now have the ability to procure without having to go through IT, without having to go through procurement, it’s really changed the game,” said Jonathan Strauss, director of strategic solutions at Apptio, in a recent CUBE Conversation held in advance of the event.

Join theCUBE on July 25 for our exclusive coverage of the AWS Savings in the Cloud event, as industry analyst John Furrier, host of SiliconANGLE Media’s livestreaming studio theCUBE, discusses how organizations are optimizing their AWS cloud spend, along with insights around cloud cost optimization. (* Disclosure below.)

Recent developments around AWS

Amazon has been looking to optimize its cloud spend as a result of ongoing economic uncertainty. In April, after Amazon’s stock dipped, Amazon Chief Financial Officer Brian Olsavsky stated that optimizations were ongoing.

“We are seeing these optimizations continue into the second quarter with April revenue growth rates about 500 basis points lower than what we saw in Q1,” he told analysts.

The company also expects its revenue growth to come in at a lower rate in the coming quarter, according to Olsavsky. This actually presents an opportunity for AWS, and the rest of the market, according to several industry analysts.

William Blair & Co. LLC analysts Dylan Carden and Arjun Bhatia reported that the bearish case would see more pain as the growth-tech industry shakeout continued, but they added there were potential benefits of ongoing cloud migration for larger and more stable parts of the economy.

“As such, we would look for growth to stabilize around 10% for the balance of the year,” they wrote.

While the big three U.S. cloud players all released earnings in April that showed slowing cloud growth, it’s likely to fuel new expansion in the cloud ecosystem, according to SiliconANGLE industry analyst Dave Vellante.

“Toward the end of 2021, we began to see early-inning signs of optimization kicking in more broadly, where customers took a harder look at the spectrum of pricing options and began to get more aggressive about cost-cutting,” Vellante wrote in an April edition of his Breaking Analysis series. “Aggressive and ongoing cost optimization is not a negative for cloud demand, in our opinion. Rather, it will drive more demand in the long run and serve to make the cloud even more attractive going forward.”

Companies making moves

So what about a company such as Apptio, which has sought to democratize cloud data?

The company believes it is positioned to lead the way in FinOps as the cloud technology landscape continues to evolve, while helping organizations navigate cloud cost complexity and optimize investments, according to Strauss.

“Looking at actual telemetry data, looking at the actual products and customers, what we call unit economics, really being able to understand … I’m actually able to service my customers at a cost per unit less expensive today than it was six months ago or 12 months ago,” he said.

Another participant in the AWS Savings in the Cloud event will be Spot by NetApp, which uses advanced analytics to optimize cloud infrastructure resources.

“We’re giving people a way to simplify the number of different tools that they need to use to be able to embed … operational continuous optimization into their environments,” said Jon Bock, vice president of marketing at Spot by NetApp, in a recent video.

TheCUBE will provide full coverage of the AWS Savings in the Cloud event to capture all the breaking news and provide analyst-driven commentary on how organizations are optimizing their AWS cloud spend. You can follow theCUBE’s wall-to-wall coverage for firsthand insights on cloud cost optimization and more.

TheCUBE event livestream

Don’t miss theCUBE’s coverage of the AWS Savings in the Cloud event on July 25. Plus, you can watch theCUBE’s event coverage on-demand after the live event.

How to watch theCUBE interviews

We offer you various ways to watch theCUBE’s coverage of the AWS Savings in the Cloud event, including theCUBE’s dedicated website and YouTube channel. You can also get all the coverage from this year’s events on SiliconANGLE.

TheCUBE Insights podcast

SiliconANGLE also has podcasts available of archived interview sessions, available on iTunes, Stitcher and Spotify, which you can enjoy while on the go.

SiliconANGLE also has analyst deep dives in our Breaking Analysis podcast, available on iTunes, Stitcher and Spotify.

Guests

Stay tuned for the complete guest lineup on theCUBE.

(* Disclosure: TheCUBE is a paid media partner for the AWS Savings in the Cloud event. Neither Amazon Web Services Inc., the sponsor of theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.) 

Image: SiliconANGLE