What are the Benefits of Savings Plans over Reserved Instances?
AWS introduced Savings Plans to simplify long-term purchase commitments over the Amazon Reserved Instances (RI) service reservation model. On the surface, it seems like a no-brainer to move to Savings Plans—but not so fast! There are lots of considerations:
- What amount should you commit per month?
- Which term is right: 1-year or 3-year?
- What is the impact of No Upfront versus Upfront versus Partial Upfront payment options?
- When should you select EC2 Savings Plans over Compute Savings Plans?
- What if you still need guaranteed capacity?
Densify’s unique approach to these questions often uncovers an additional 20—40% monthly savings over your current methods.
Watch the above presentation by AWS cost optimization and purchasing experts, which includes:
- The case for Savings Plans and optimal purchasing strategies—but what about that 5%?
- I still have a bunch of RIs—what should I do with them?
- Is there ever a case where I should still consider Reserved Instances?