Total Cost of Ownership is a key metric to measure the value addition of an enterprise software platform versus the cost to procure and maintain it. In the Cloud Data world, TCO refers to the ability of a Data team to reduce the cost of cloud computing by optimizing the running of data workloads that power their business forward. The 2020 TCO Innovator Awards seek to honour best-in-class innovation on Total Cost of Ownership in the Cloud Data space. The winners are from Qubole’s global customer set and include some of the most innovative and forward-thinking companies in the world.
Increasing data workloads on the cloud can lead to cost unpredictability due to lack of financial governance and this negatively impacts Total Cost of Ownership. In the cloud, rising costs are not necessarily bad; it means that the data team is using more services, which theoretically means the team is doing more “good stuff” and hopefully is delivering business value. Data Leaders need to make TCO Optimization a key goal in order to drive data-driven innovation on the cloud.
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