The new Rightsizing tool can help you use your EC2 and RDS instances more efficiently and save money: https://apps.cloudhealthtech.com/ui/rightsizing/ec2/dashboard

Below are definitions of variables used in the calculation:

"estimatedusagehours" is the measure of how many hours we estimate that the instance was used during the current month.

"daysPassedInCurrentMonthInHours" is the number of days in current month x 24 hours.

Below are the calculations used for rightsizing recommendations:

estimatedusagehours = (total usage Hours/daysPassedInCurrentMonthInHours)*numberOFDaysInCurrentMonthInHours)

Note: for day less than or equal to 3 in a given month, then

estimatedusagehours = 24 * ACTUAL_DAY_OF_MONTH

1. Current price = estimatedusagehours * instance_type_hourly_price;
2. Projected price =  OnDemandPrice of best fit instance * estimatedUsageHours.
   1. Projected price = 0 if we decide to terminate instance
   2. Projected price = current (for no change in recommendation)
3. Projected Savings = current price - projected price