Companies are increasingly relying on Snowflake and Databricks for data processing and analytics, leading to a focus on cloud cost optimization. Strategies include efficient resource allocation, leveraging pricing models like on-demand and reserved instances, and gaining visibility into cloud usage. Automation plays a crucial role in improving cost efficiency through real-time cost monitoring, auto-scaling, and predictive analytics. Regular audits, query optimization, and the use of built-in or third-party cost management solutions ensure long-term financial control while maintaining performance.