Instances used for experimentation, learning, and in highly price-sensitive situations, using spot instances can be the most cost-effective option. These instances offer incredible value for the right workloads and are commonly used for dev/test, and embarrassingly parallel workloads. AWS carries extra capacity in terms of unused instances, and they sell these instances on a spot market. The pricing is dynamic and based on supply/demand. If you check the price history of spot instances, you will note that they do not vary too much. Hence, you can balance price and availability with the right combination of On-Demand, Reserved, and Spot instances.
You can set the maximum price you want to pay for an instance, and that ...
