How does AWS S3 assist in cost savings for data storage?

AWS S3 assists in cost savings for data storage primarily by allowing the configuration of different storage classes. This flexibility enables users to optimize their costs based on how often they access their data and the required durability. Each storage class has different pricing models and characteristics suited for various use cases.

For instance, standard storage is ideal for frequently accessed data, while infrequent access storage is cheaper for data that is not regularly accessed but still needs to be quickly retrievable. There are also archival storage options, such as S3 Glacier, designed for data that is rarely accessed but must be retained for compliance or regulatory reasons. This tiering allows organizations to only pay for the storage they actually use based on their specific needs, significantly reducing overall storage costs across varying workloads.

The other options do not correctly reflect how cost savings in AWS S3 are primarily achieved. While S3 does provide virtually unlimited storage capacity, this alone does not equate to cost savings. The automatic deletion of old data can be managed through data lifecycle policies, but it doesn't directly impact the cost savings strategy within storage classes. Finally, requiring frequent access to reduce costs contradicts the very principle of cost-effective storage; frequent access typically incurs higher costs, especially in the standard storage tier.