Cloud promises cost savings, but users still overspend

Cloud overspending and overprovisioning is a pervasive problem as cloud usage is poised to grow in 2022.

For cloud providers, business is booming. In just the last few weeks, major providers Google and Amazon Web Services have struck deals with the CME Group and Nasdaq, respectively, and a growing patchwork of private, public, and hybrid cloud projects and migrations make up a huge chunk of tech spending in financial services and beyond—globally, $396 billion was spent on public cloud services in 2021, according to Gartner, which projects that figure to reach $482 billion next year.

While the

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