Background
A leading global FinTech company, recognized as one of the fastest-growing banks, has become one of the largest DynamoDB users worldwide. The rapid expansion of their services led to significant DynamoDB expenses. However, their focus on innovation and speed left limited bandwidth for in-depth cost optimization. They needed a solution to uncover hidden inefficiencies and optimize their DynamoDB usage without compromising their growth momentum.
Challenges
When this FinTech organization approached PointFive, they had already negotiated private pricing with AWS due to their large scale. However, their Director of Engineering recognized that there were untapped opportunities for usage optimization beyond rate discounts. They needed a comprehensive analysis of their DynamoDB usage to uncover these opportunities.
Solution
The PointFive platform’s recommendation engine analyzed the FinTech company's DynamoDB workloads and identified deep waste detection opportunities. A few examples include:
Storage Type Optimization
PointFive identified a significant optimization opportunity for a large, heavily accessed DynamoDB table. By analyzing the usage patterns, PointFive recommended transitioning this table from the Standard class to the Standard-Infrequent Access class. The current monthly storage cost for this table was $21,000. After the transition, the cost was reduced to $8,000 monthly cost, resulting in a significant 60% savings. Even after accounting for an additional $2,000 in on-demand request costs, the customer saved $13,000 monthly for this single table.
Inactive Table Identification
Another substantial opportunity was identified for an 18TB DynamoDB table that showed no read or write activity for the past 30 days. PointFive’s platform recommended specific, actionable remediation options, such as archiving the table's data to S3 and then deleting the DynamoDB table. Alternatively, the technology suggested changing storage and capacity settings to minimize costs. These actions provided the FinTech with multiple pathways to eliminate unnecessary expenses associated with inactive tables.
By shifting tables to more cost-effective storage types and identifying inactive tables, PointFive provided actionable recommendations that significantly reduced the FinTech's DynamoDB costs.
Conclusion
This leading global FinTech's collaboration with PointFive exemplifies the impact of comprehensive cloud cost optimization. By leveraging PointFive's platform, they not only achieved significant cost savings but also gained deeper insights into their DynamoDB usage. The rapid realization of ROI within just ten days highlights the efficiency and effectiveness of PointFive's approach. This case study underscores the value of going beyond rate discounts to uncover hidden inefficiencies and drive substantial savings.
