Cloud Financial Management Conventions

[gjmveloso]

Area(s)

area:cloud

Is your change request related to a problem? Please describe.

Semantic Conventions for Cloud Financial Management could help unlock near realtime cloud financial management metrics and unlock a novel approach on modern FinOps practices backed by the distributed tracing/spans approach that got standardized by OpenTelemetry.

Describe the solution you'd like

There is a strong foundation on most of the CFM metrics that are vendor-neutral under FOCUS specification. OpenTelemetry could collaborate with FinOps Foundation on making them to fit the broader semantic conventions under the OpenTelemetry project.

In the long term, OTel collectors would be able to collect and correlate application/host signals with cost signals emitted by third-party monitoring solutions and cloud providers that adheres to this Semantic Conventions proposal.

Describe alternatives you've considered

No response

Additional context

No response

[gyliu513]

@gjmveloso I was trying to open a similar issue and found we already have one, thanks!

I was wondering we can probably initiated a draft semantic convention based on https://www.opencost.io/docs/integrations/opencost-exporter#available-prometheus-metrics and we can extend it to more platforms and clouds, do you think we need a FinOps SIG focus for this?

[joaopgrassi]

This seems to be a big topic on its own, maybe even worth discussing opening a project/SIG for it.

[gyliu513]

@joaopgrassi @gjmveloso It would be fantastic if we could start a project or SIG for this, I’d be happy to contribute! Does there are any official process for how to form a new SIG? Thanks!

[joaopgrassi]

Please take a look at: https://github.com/open-telemetry/community/blob/main/project-management.md for guidance in establishing a new SIG

[gjmveloso]

Let’s try to form that SIG, then 🚀

[gyliu513]

@gjmveloso @joaopgrassi shall we had a group chat for this? @gjmveloso I cannot find you from CNCF slack channel, @joaopgrassi is there. If you can send you slack id to me, I'm happy to create a group chat for three of us, or you can create a group chat to include me and @joaopgrassi as well, my CNCF slack id is gyliu513and @joaopgrassi is Joao Grassi, thanks!

[joaopgrassi]

Hi all, my comment was mostly from a triaging perspective on what should be done next in this issue. Unfortunately I don't have the bandwidth to sponsor this working group, but feel free to proceed with the arrangements/project proposal process.