AWS Cost Optimization is the process of reducing unnecessary cloud spending while maintaining performance and reliability. It involves right-sizing EC2 instances, using Auto Scaling, selecting the right pricing models such as Savings Plans and Spot Instances, optimizing S3 storage with lifecycle policies, removing unused resources, and monitoring costs with AWS Cost Explorer and AWS Budgets. By continuously monitoring usage and choosing the right AWS services for each workload, organizations can improve efficiency and avoid unnecessary expenses.
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