During my time as Head of Data at CC Data, a cryptocurrency data provider, we were faced with a concerning situation. Our infrastructure costs, based in Azure, were spiraling upwards, accounting for approximately one-sixth of our total expenses. The cause of this unexpected increase was unknown to the senior management, creating a need for immediate investigation and resolution.

I was assigned the responsibility of understanding the root cause of this escalating expense and devising strategies to curb it effectively. The key challenges were comprehending Azure's complex pricing structure, identifying the areas causing the excessive expenditure, and finding cost-efficient alternatives.

I embarked on this task by first gaining an in-depth understanding of Azure's pricing structure. To ensure regular monitoring and identification of cost trends, I created a monthly report detailing all costs incurred on Azure. This report was later handed off to an analyst for ongoing maintenance.

My investigation revealed that the main source of our expenditure was data storage. In response, I took several steps to address this problem. I eliminated redundant data and removed unnecessary storage accounts, thereby reducing waste. I also implemented life cycle policies where appropriate to ensure efficient data handling. In collaboration with the Orderbook team, I worked on minimizing the product's cost by scrutinizing various providers, exploring different data formats, and considering multiple compression types. I also educated the development teams about the cost implications of their actions to promote cost-awareness in their future operations.

These systematic and strategic actions led to a significant 15% reduction in infrastructure expenditure, which translated to a 2.5% decrease in our overall costs. Besides curtailing the spiraling storage costs, my intervention also future-proofed our systems from similar cost-related issues. The teams now had a better understanding of the cost consequences of their actions, thus fostering a more cost-conscious culture in the organization.