For certain services like Amazon Elastic Compute Cloud (Amazon EC2) and Amazon Relational Database Service (Amazon RDS), you can invest in reserved capacity. What options are available for Reserved Instances?
Reserved Instances are a pricing option provided by Amazon Web Services (AWS) that allows customers to save costs by committing to using specific instance types in the AWS cloud for a certain duration of time
Reserved Instances are a pricing option provided by Amazon Web Services (AWS) that allows customers to save costs by committing to using specific instance types in the AWS cloud for a certain duration of time. There are three types of Reserved Instances available:
1. Standard Reserved Instances: These are the most commonly used type of Reserved Instances. They offer a significant discount compared to On-Demand instances and require a one-time upfront payment or a smaller upfront payment with a higher hourly rate. Standard Reserved Instances are most suitable for steady-state workloads that run consistently for a longer duration.
2. Convertible Reserved Instances: These offer more flexibility than Standard Reserved Instances but come with slightly higher pricing. Convertible Reserved Instances allow customers to change the attributes of the instances, such as instance type or the Reserved Instance term, enabling easy adaptation to changing usage patterns. This flexibility can be useful in scenarios where demand patterns might change or for customers who are unsure of their future requirements.
3. Scheduled Reserved Instances: This type of Reserved Instance is designed for customers with predictable or scheduled workloads. Scheduled Reserved Instances provide capacity reservations for a specific time window on a recurring basis. They are billed on a per-hour basis and offer a smaller discount compared to Standard and Convertible Reserved Instances. They work well for use cases where you know exactly when you need the capacity, such as batch processing or periodic data analysis.
Each of these Reserved Instance types has its own pricing structure and payment options, allowing customers to choose the most suitable option based on their workload requirements and cost-saving goals. It is essential to analyze your usage patterns and anticipated workload demands to determine which type of Reserved Instance best fits your needs and provides the most cost-effective solution.
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