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For RDS, it is much cheaper to pay for more storage than more IOPS, at least if you are under 3k IOPS.

IE, you will save a bundle if you are currently buying 3k provisioned IOPS vs just paying for 1 TB of storage.

More here: http://blog.textit.in/why-buying-provisioned-iops-on-rds-may...

It's for EBS in general, if your application is not IOPS intensive, use large gp2 volumes instead. We've had stress test wrong and chose provisioned volumes then have it to revert back to general volumes when in production.

You may find FittedCloud automated/transparent EBS optimization useful - https://www.fittedcloud.com/solutions/aws-ebs-optimization/

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