Planning to deploy several AWS EC2 instance to host our applications. During the cost calculation phase, what are the two main factors that we will consider while deploying our EC2 instance to AWS with the least possible cost?
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Instance Utilization:
Reserved Instances are a cost-effective choice when you have steady-state workloads with predictable usage patterns.
Instance Type: instances with higher performance capabilities and additional features are more expensive. It's important to analyze your application's requirements and select the appropriate instance type that meets your needs while avoiding overprovisioning.
By optimizing your instance type selection and utilizing the appropriate purchasing options, you can effectively minimize the cost of your EC2 instances on AWS. It's essential to regularly monitor your utilization and adjust your instance provisioning and purchasing strategy as your workload evolves to maintain cost efficiency.