Elasticsearch Service on Elastic Cloud offers a comprehensive and cost-effective solution for managing data storage as workloads expand, particularly in observability and security domains. It provides strategies like hot-warm deployments and index lifecycle management (ILM) to optimize storage by utilizing hardware profiles that separate frequently and infrequently accessed data, significantly reducing costs while maintaining data accessibility. By implementing ILM, users can automate data movement between hot nodes with faster storage and warm nodes with higher storage density. Additionally, data rollups offer further savings by summarizing data into less granular documents, which frees up storage space and reduces costs. These methods allow users to manage data efficiently, extending the retention period or reducing cluster size without sacrificing performance or visibility. Elastic Cloud's robust capabilities are supported by operational expertise from the creators, and users can explore these strategies through a free 14-day trial.