Compute Budgets: Smarter New Relic Cost Management

We recently announced Compute Optimizer, a powerful tool to help you find and fix inefficient queries that drive up costs. But identifying potential savings is only half the battle. Our enterprise customers have been clear that while deep usage visibility is helpful, they need proactive controls to stay within their monthly budgets without manual toil.

Today, we’re taking the next logical step in giving you full control over your spend. Announcing

Compute Budgets, a new capability within our platform designed to provide the proactive budget management and controls you’ve been asking for.

Compute Budgets allows you to set clear spending limits, monitor your consumption in real-time, and receive notifications when you’re approaching your limits. It’s the perfect companion to Compute Optimizer, empowering you to first find savings and then lock them in.

Define and allocate flexible budgets

As an Organization Manager, you can now define and allocate compute budgets at various levels to match your organizational needs. For the initial MVP, you can:

• Set monthly budgets for Legacy, Core, and Advanced Compute.
• Create a custom budget for a single account or a group of accounts.
• Define budget limits based on a specific CCU value.
• Start with a default master budget automatically set to your contract value, which you can then edit as needed.

Monitor real-time usage against your budget

Once your budgets are set, you can easily track and review compute usage across your organization to ensure budgets are being followed. On the Budgets Management interface, you will see a list of all the budgets you have set up, with a clear view of real-time data showing actual usage against those budgets. You can quickly see if any budgets are approaching their limit or have gone over.

Best of all, monitoring your budgets is free. All the queries required to power the Budgets capability will not count toward your billable usage.

Get proactive notifications to stay on track

The platform’s visibility and alerting features are now enhanced with proactive budget notifications. You can define notification rules to stay ahead of your spending.

• Set alert thresholds based on the actual usage as a percentage of the budget.
• Choose to receive notifications via Emails or Webhooks.

Getting started with Compute Budgets is straightforward.

1. Log in to New Relic as an Organization Manager.
2. Navigate to the Administration Panel.
3. Click on the new Compute Budgets page to access the interface.
4. From here, you can create a new custom budget, giving it a name and selecting the account(s) it applies to.
5. Set your budget limit and configure your desired notification settings.

Ready to take proactive control of your compute spend?

• Try it now: Log in to your New Relic account and find the Compute Budget page in the Administration Panel.
• Sign up for New Relic: If you’re not already a customer, sign up for a free account. Your free account includes 100 GB/month of free data ingest, one free full-access user, and unlimited free basic users.
• Read the docs: For more detailed information, please visit the [Compute Budgets documentation page].

Use Compute Optimizer to find your savings, then use Compute Budgets to enforce them. Together, they provide a complete solution for managing your compute investment.