Saving Big on AWS: Best Practices for Cost Optimization and Efficiency

A checklist for Cloud Solution Architects to live by

Looking to optimize your AWS costs? In this blog, we’ll share the best practices for AWS cost optimization, including tips and strategies for achieving optimal cost savings and improving your efficiency. Whether you’re a new AWS user or an experienced one, these insights will help you reduce your cloud expenses while leveraging the best features on the cloud.

✅ Use AWS EC2 On-Demand, Reserved, or Spot instances

Instead of always relying on Dedicated instances, try these cost-effective options as well. On-demand instances provide flexibility and no upfront costs, spot instances offer potential cost savings for non-critical workloads, and reserved instances are ideal for applications with predictable or steady-state workloads.

AWS EC2 On-Demand vs Reserved vs Spot instances (Image: Slideshare.net)

• On-Demand Instances: On-demand instances provide compute capacity on an hourly or per-second basis, with no upfront payment or long-term commitment required.
  Benefits: Easy to use and flexible, with no upfront cost and no long-term commitment.
  Use cases: Ideal for workloads with short-term, unpredictable, or variable usage patterns.
• Spot Instances: Spot instances allow you to bid on…