We are excited to announce the General Availability (GA) of New Relic Data Budgets, a new feature empowering administrators with proactive cost management capabilities. You can now set granular monthly budgets, monitor usage against those budgets in real-time, and receive timely notifications.
This update allows you to monitor your observability spend effectively, ensure cost predictability and stay aligned with your financial goals. It also reduces your administrative overhead and enhances cost-effectiveness by eliminating manual budget tracking efforts.
Key Features
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Default Organization Budget: Customers begin with an automatic organization budget set to their minimum contract value, with the flexibility for Organization Managers to edit as needed; those without a minimum contract commitment can establish an Organization budget themselves.
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Flexible Budget Creation: Customers can set custom monthly budgets for their account(s) and customize budget limits based on specific Data Ingest usage.
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Real-Time Budget Monitoring: Track actual usage against your set budgets in real-time, without impacting billable usage.
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Proactive Notifications: Customers can define ingest thresholds at which they wish to receive notifications and get notified via Email or Webhooks based on actual usage to ensure they stay ahead of their spending limits
Empower your engineering teams to leverage observability tools effectively while maintaining financial predictability!
Want to know more? Check out our Data Budgets Documentation.