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BREAKING DOWN THE BASICS OF FINOPS: Understanding the Key Concepts and Terminology
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UNDERSTANDING INDUSTRY TERMS IS CRUCIAL TO UNDERSTANDING OPERATIONS
In any field of operations, it is very important to get your terminologies right. Teams cannot operate, communicate, or coordinate well together if they don’t talk or write in the same terms. This is why this subject should be discussed early on, and in this episode, Nick and Jason will be breaking down important terms in FinOps such as Blended vs Unblended Cost, Cost Allocation, On-Demand Pricing, Amortized Cost, Cost of Capital, and much more, so stay tuned until the end of this latest episode of Cloud Cost Optimization.
WORDS TO OPTIMIZE YOUR DAY
NICK: THE IMPORTANCE OF A COMMON VOCABULARY
“This is important to cover early on because one of the first steps in any endeavor is really defining your vocabulary to help people communicate, and when we're communicating across Finance and DevOps, being able to bring those two teams together in a common dictionary, I think, is pretty important.”
Get to know our hosts in the links below:
- Nick Lumsden: https://www.linkedin.com/in/nicklumsden/
- Jason Yaeger: https://www.linkedin.com/in/jasonyaeger/
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