Cloud cost management involves the practice of tracking, allocating, analyzing, and reporting cloud expenditures to ensure efficient use of resources in alignment with business objectives. It is essential for maintaining financial accountability and optimizing cloud investments, focusing on understanding resource usage, reducing costs, and controlling spending. Key strategies include identifying underutilized resources, right-sizing workloads, leveraging Reserved Instances and Savings Plans for predictable usage, and using Spot Instances for non-critical tasks. Continuous monitoring and anomaly detection help prevent unexpected costs, while setting budgets and promoting a cost-aware culture ensures disciplined spending. Cloud cost management forms the foundation for cost optimization, which actively improves spending efficiency by aligning it with business goals, thereby transforming financial insights into business value. Harness Cloud Cost Management offers tools to streamline these practices, employing machine learning and AI to manage cloud expenses, minimize waste, and enhance cost efficiency, allowing organizations to focus on core business activities while achieving cost optimization.