Optimizing cost-efficiency with Spot and Reserved Instances
AWS offers various pricing models for its compute resources, including Spot Instances and Reserved Instances, which provide significant cost savings compared to On-Demand Instances. Spot Instances allow users to bid on unused EC2 capacity, offering up to a 90% discount. However, AWS can reclaim Spot Instances with a 2-minute notice if the spot price exceeds the bid or capacity is needed. Reserved Instances, on the other hand, provide a significant discount compared to On-Demand Instances in exchange for a commitment to a specific instance configuration for a 1 or 3-year term. Reserved Instances are best suited for steady-state workloads, while Spot Instances are ideal for flexible, fault-tolerant workloads.
In this section, we will dive deeper into Spot Instances and how you can leverage these to your advantage in optimizing cost.
Using Spot Instances
Spot Instances are an innovative offering from AWS that enables...