LogicMonitor, the leading SaaS-based hybrid observability solution powered by AI, is announcing a new capability as part of its LM Envision platform—a SaaS-based, unified observability platform that empowers modern enterprises to adopt a cloud-ready operating model for effectively meeting key business demands. This new feature—dubbed LM Cost Optimization—leverages AI to power cost optimization for next-gen cloud operations (CloudOps) and platform engineering teams.
As cloud spend continues its ever-constant rise, enterprises must learn to control costs when adapting to cloud while often still maintaining an on-prem environment—which is becoming a nearly Sisyphean task.
LogicMonitor’s latest LM Cost Optimization capability targets this crucial area of business, enabling enterprises to access detailed telemetry that reveals resource usage in relation to effective cloud/on-prem infrastructure management.
“Rising cloud spend colliding with a down economy has raised visibility all the way to the executive and board level,” wrote Tracy Woo in the Forrester report, The Cloud Cost Management And Optimization Landscape, Q1 2024, published March 11, 2024. “Cloud leaders lean on these tools to help justify spend, forecast and budget current and future spend, optimize and identify waste, automate easy tasks, enforce good tagging hygiene, and better link usage to achieving business targets.”
When enabled, LM Cost Optimization consolidates multi-cloud spend into a single view, simplifying cost and resource changes through visualizations that ease configuration and bill predictability. The new capability also offers out-of-the-box billing dashboards and filtered tags designed to deepen and accelerate visibility and access to insights, empowering data-driven cloud decision making.
“As a company committed to modernization, we’re excited to unveil capabilities that level up AI-powered observability,” said John Kim, general manager, hybrid observability, LogicMonitor. “Our powerful new LM Cost Optimization and expanded cloud-managed networking coverage offer a complete view for teams struggling with cloud billing clarity. Enterprises can finally anticipate their cloud spend and forecast accurately, which will be essential as they transition in their cloud journeys.”
LM Cost Optimization also leverages the LM Envision platform’s AI intelligence, offering cloud recommendations that highlight both proactive and reactive cost-savings suggestions in areas including capacity changes, unused resources, and more. Ultimately, this functionality enhances resource utilization, ensuring that any decisions made about the cloud are tied back to business needs and goals, according to the company.
“LogicMonitor continues to be a valuable partner of ours, constantly innovating and adapting to our growing business needs,” said Rafik Hanna, SVP, Topgolf Technologies. “Their dedication to staying ahead of the curve ensures our operations run smoothly, allowing us to focus on what matters most to us—bringing more play to the world and delivering exceptional experiences to our Players.”
To learn more about LogicMonitor, please visit https://www.logicmonitor.com/.