Article contents
Cost Optimization Strategies for Data-Intensive Financial Applications in the Cloud
Abstract
The swift migration of financial services to cloud infrastructure has opened unprecedented prospects for scalability and innovation while, at the same time, bringing intricate difficulties in terms of cost management and optimization. In this article, there is a thorough analysis of engineering-led strategies tailor-made to minimize cloud infrastructure costs for data-hungry financial applications without the need for compromising the strict performance, security, and compliance demands that are part of the financial industry. By an empirical examination of architectural optimization methods, workload management mechanisms, storage optimization strategies, automation frameworks, and pricing model mechanisms, we illustrate how financial institutions can significantly lower costs while enhancing operational effectiveness. The article delves into the adoption of machine learning-based workload forecasting, serverless computing for event-driven workloads, smart storage tiering with automated lifecycle management, AI-powered governance frameworks, and the implementation of FinOps practices that foster a culture of cost consciousness within organizations. By analyzing actual deployments and case studies from large financial institutions, this article offers practical insights on how organizations can juggle the conflicting pressures of cost savings, regulatory requirements, and performance demands within cloud platforms. The results show that full-scale implementation of these initiatives allows financial institutions to maximize their cloud expenditure immensely while preserving the agility and scalability required to compete in the rapidly digitalizing financial environment.
Article information
Journal
Journal of Computer Science and Technology Studies
Volume (Issue)
7 (10)
Pages
137-143
Published
Copyright
Open access

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