AWS Cost Explorer - Amazon EC2 Reserved Instances and Other AWS Service Reservation Models

AWS Cost Explorer

AWS Cost Explorer lets you visualize, understand, and manage your AWS costs and usage over time. You can analyze your cost and usage data at a high level (e.g., total costs and usage across all accounts in your organization) or for highly specific requests (e.g., m2.2xlarge costs within account Y that are tagged project: secretProject).

You can dive deeper into your reservations using the Reserved Instance utilization and coverage reports, which are available out of the box. Using these reports, you can set custom Reserved Instance utilization and coverage targets, and visualize progress toward your goals. From there, you can refine the underlying data using the available filtering dimensions (e.g., account, instance type, scope, and more).

AWS Cost Explorer provides the following prebuilt reports:

  • EC2 RI Utilization % offers relevant data to identify and act on opportunities to increase your Reserved Instance usage efficiency. It’s calculated by dividing Reserved Instance used hours by total Reserved Instance purchased hours.

  • EC2 RI Coverage % shows how much of your overall instance usage is covered by Reserved Instances. This lets you make informed decisions about when to purchase or modify a Reserved Instance to ensure maximum coverage. It’s calculated by dividing Reserved Instance used hours by total EC2 On-Demand and Reserved Instance hours.

Furthermore, AWS Cost Explorer provides Reserved Instance purchase recommendations for Zonal and Size-Flexible Reserved Instances to help master accounts achieve greater cost efficiencies.