Cost management and governance
1. Cost management and governance
Welcome back! In this video, we'll explore the capabilities of Azure for cost management and governance.2. Costs in Azure
As a cloud solution, Azure provides the capability to rent resources and services instead of buying and building your own server infrastructure. This means that costs in Azure are related to how many and how long you use services and resources. A typical cost structure in Azure is 'pay-as-you-go', where you are charged based on your actual usage. In addition to Azure-native services, you can also make use of third-party services, which can be found in the Azure Marketplace. These come with their own costs.3. Cost management
Because you pay for what you use, it is very important to follow up on your usage of Azure and the associated costs. Luckily, Azure provides you with a set of cost management tools. These allow you to follow up on the costs of applications and resources, set up budgets, limits, and alerts, and analyze your costs on a regular basis.4. Example use case: budgeting
Suppose you are responsible for setting up the budgets in Azure for your company's data projects. Using Azure, you can set up spending limits for each project, set up an alert to the manager if the project goes over budget, and create a monthly cost overview report for each project.5. Governance and compliance
The second component we'll discuss in this video is governance. Governance can be defined as the guiding principles a company puts in place to direct its operations responsibly, for example, defining security rules. These guiding principles are accountability, transparency, and security. A typical use case is compliance. Compliance means adhering to the applicable industry standards, laws, and rules, for example, with respect to privacy and data protection. This is supervised by internal and external organizations. Large companies can have a compliance department, for example. External supervision is typically done by a governmental body, like the Federal Reserve for banks in the US.6. Governance with Azure
As we saw before, accountability and transparency are important parts of governance. Typically, this also means a company needs to document and report how it fulfills its obligations. This is where Azure comes in. Typical governance tasks in Azure include setting up specific governance policies, logging user actions to provide an audit trail, and documenting and reporting fulfillment of regulatory obligations. Azure is also able to take into account different requirements according to regional differences in standards and regulations.7. Example use case: data protection regulations
Suppose you are the compliance officer in charge of ensuring your company follows data protection regulations. Using Azure, you can do tasks like enforcing data sensitivity labels to 'confidential' and require encryption for sensitive data.8. Let's practice!
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