Maximizing value, controlling cost with cloud FinOps – “Among current users, 56% report that spending on public cloud was significantly over budget (by 30% or more) or somewhat over (by 10%-30%) in 2022, compared with 45% of respondents saying the same in 2021. Multiple factors cause organizations to overshoot their budgets for public cloud services (see Figure 2). The need to scale up resources to address unexpected demand emerges as the chief culprit for cloud budget overruns (cited by 29% of respondents, up from 22% in 2021). Other factors include overcommitting to resources (16%), lack of governance/usage guardrails (14%) and lack of pricing transparency from the cloud providers (10%).”