Effective Savings Rate: The Ultimate FinOps Rate Optimization Metric, Eric Mulartrick & Erik Carlin

Eric Mulartrik of Boomi and Erik Carlin of ProsperOps give us a lesson about Effective Savings Rate (ESR), a standard, cloud agnostic way to measure the efficacy of your rate optimization efforts. ESR is a great top level KPI to track and share with your CFO and finance team!
This talk was part of FinOps X 2023. Check out the full Keynotes and other breakout sessions.
Also catch up on FinOps X '23 Day 1 Keynote: • FinOps X ‘23 Day 1 FUL...
FinOps X '23 Day 2 Keynote: • FinOps X ‘23 Day 2 KEY...
Join our FinOps community today: finops.org/mem...
#finops #automation #cloudcostoptimization

[@scfan7231]

That's a great talk! Great idea of making benchmark. Thank you ProsperOps for this contribution!
Obviously it's not fully comparable, and obviously, if one is in the top 20% this is very good. Well done!

[@jayinbeijing]

Great KPI, thanks a lot for sharing. Would be great to correlate this KPI with the actual usage of the instances in vcpu and ram utilisation rate in order to see how well they are actually used.

[@user-oi5bh4ln8n]

What does it take to become a "standard kpi", (24:13) and where is the list of standard kpis at the FinOps Foundation?

[@finopsfoundation]

Great question! It depends on the organization and their business goals, and how they utilize cloud, to be honest. The community has created an open collaborative collection of known KPIs that you can check out: www.finops.org/wg/finops-kpis/