This video discusses how to use cost allocation strategies to understand and manage your AWS bill effectively. The presenters, Lisa Harnett, Natalia, and Michael, cover key topics such as linking spend to business units, tracking team budgets, determining workload costs, and providing teams with visibility into their AWS spend. They demonstrate practical implementation using AWS tools like Cost Explorer, tagging, and cost categories. The presentation emphasizes the importance of collaboration between technical and business stakeholders in developing an effective cost allocation strategy. Viewers will learn about different approaches to cost allocation, including account-based, resource tagging, and cost categories, as well as best practices for implementing and maintaining these strategies.