Getting Started with Budgeting & Forecasting

Owned by John Brand (Unlicensed)
Last updated: Sept 29, 2021
2 min read

How do I get to Budgeting & Forecasting?

Select "Budget & Forecast" on the left side of the page. Or navigate to a specific hierarchy like Company/IT then and pick "Budget & Forecast" 

What are the primary reasons to use Budget & Forecast?

The main benefits of using Yotascale to track your budgets are:

  • Track your budgets inline with other analytics for your cloud spend (costs, anomalies, recommendations, etc.)

  • Track your budgets vs your actual historical cloud spend

  • Weekly notifications of how you are doing with respect to your budget given the context of your business

The main benefits of using Yotascale to forecast your cloud spend are:

  • Help plan your budgets given your historical costs

  • Answer questions about “How are we looking for next month/quarter, this year, etc?”

  • Predict when intervention is needed to ensure your budgets are not exceeded

Setting and managing budgets

Setting and managing your AWS budgets is a key component of Budgeting & Forecasting. Once you set budgets, you’re able to compare your budgeted AWS spend to how much you’re forecasted to spend, as well as make historical comparisons between your budgeted and actual spend for the defined period.

Budgeting & Forecasting operates on a per context basis. For each context you have in your system, you can see forecasted costs and set budgets. This enables you to see and manage the details for the resources in only the context that is relevant to you.

Setting a budget for the first time

You can set budgets by clicking on the button "Set Budgets" on the Budget & Forecast page. Or first select the business function and then go to the Budget & Forecast page and click on the "Set Budgets" button.

Comparing historical budgets vs. actuals

Naturally, you want to compare how your budgeted costs compared to your actual costs. Here’s how you can do it using Budgeting & Forecasting. Note that if you have not set a budget for the prior time period, you will not be able to see this comparison.

  1. Navigate to Budgeting & Forecasting for the context you’d like to compare budget vs. actual.

  2. By default, you’ll be taken to the current time period (month, quarter, or year). Under the Budgeting & Forecasting section, use the arrows to navigate to the month you’d like to see. Alternatively, you can select the Time Frame dropdown at the top of the screen to select the time period.

  3. Assuming you have a budget set, you’ll see the budget line for the selected time period and see actual costs as compared to that in the Budgeting & Forecasting section. Red on the graph indicates where you’ve gone over budget, and green is where you’re under budget.

Using Forecasting to predict future AWS costs

If you have set a budget for the selected time period, your forecast will interact with your set budget to indicate whether you are forecasted to go over budget.



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