Businesses have significantly benefited from the public cloud's readily available products and services, which have streamlined infrastructure setup with instant access to hardware resources. However, challenges such as fluctuating prices and awareness gaps in operations teams have complicated resource optimization, particularly in choosing the right AWS EC2 instance type from over 770 options available, varying in storage, networking, and operating systems. Effective cost management involves understanding application requirements, benchmarking to assess performance, and exploring AWS's pricing models like On-Demand, Reserved Instances, Savings Plans, and Spot Instances. Additionally, strategies such as utilizing burstable performance instances and optimizing storage choices can help reduce costs. Automation tools, like Cast AI, further assist in selecting cost-effective instances by analyzing workload needs and providing tailored recommendations, ensuring a balance between performance and cost-efficiency without compromising service quality.