Israeli cloud infrastructure optimization startup Spotinst Ltd. today announced it’s rebranding itself as Spot and debuted a new product called Cloud Analyzer that helps enterprises to spot inefficiencies with their cloud computing operations more easily.

Spot launched in 2015 with a service that helps companies to optimize their cloud computing spending across multiple providers in order to save them more money.

It uses artificial intelligence software to help its customers manage cloud workloads across different data centers, claiming it can achieve savings of 80% on average. Spot does that primarily by tapping into excess server capacity offered by public cloud providers such as Amazon Web Services Inc., Microsoft Corp., Google LLC and Alibaba Cloud, the subsidiary of Alibaba Group Holding Ltd.

These cloud companies sell excess data center capacity, which is usually referred to as “spot instances,” at significantly discounted rates, rather than not sell it at all. But most enterprises fail to benefit from these cheaper prices because they’re unable to predict their availability.

Spotinst can accurately predict the availability of this excess capacity, the company said, thanks to its AI-powered software that can intelligently manage, provision and orchestrate spare capacity to help its customers take better advantage of these cheaper compute resources.

The new Cloud Analyzer tool gives enterprises additional capabilities to manage their cloud spend, providing a more holistic view of their cloud accounts, spending trends and anomalies. With that information, customers can tap into more savings opportunities, the company said.

“In unstable times such as those we are all facing today, organizations must be able to adapt and align their cloud infrastructure and costs, as well as their ability to scale up or down, with their constantly changing and unpredictable needs,” Spot founder and Chief Executive Amiram Shachar said in a statememt. “Using machine learning algorithms, automation, and now with broader visibility into spend and usage, Cloud Analyzer is able to free up CloudOps teams to deploy applications fast, while maintaining uptime at lowest possible cloud infrastructure costs”

Spot added that it’s also planning to deliver a customized version of Cloud Analyzer for managed services providers that will enable them to offer the same kind of insights to their own customers.

Image: Spot