How do you approach AWS cost monitoring and FinOps optimization?

In Simple Words:

• Cost Allocation Tags: Enforce mandatory tags (Environment, Team, CostCenter) via AWS Organizations SCPs.
• Compute Savings Plans: Commit to consistent hourly compute across Lambda, Fargate, and EC2 for up to 66% discounts.
• S3 Lifecycle Rules: Transition infrequently accessed objects from Standard to Intelligent-Tiering or Glacier Flexible Retrieval.
• Right-Sizing & Graviton: Upgrade x86 instances to ARM64 AWS Graviton3/4 processors for up to 25% better price-performance.

// AWS IAM SCP: Enforcing Cost Allocation Tags on resource creation:
{
  "Version": "2012-10-17",
  "Statement": [
    {
      "Sid": "EnforceEnvironmentTag",
      "Effect": "Deny",
      "Action": ["ec2:RunInstances", "rds:CreateDBInstance"],
      "Resource": "*",
      "Condition": {
        "Null": { "aws:RequestTag/Environment": "true" }
      }
    }
  ]
}