What is the MOST cost-effective storage solution for this situation?
Store the statements using the Amazon S3 Standard storage class. Create a lifecycle policy to move the statements to Amazon S3 Glacier storage after 1 day.
Store the statements using the Amazon S3 Glacier storage class. Create a lifecycle policy to move the statements to Amazon S3 Glacier Deep Archive storage after 30 days.
Store the statements using the Amazon S3 Standard storage class. Create a lifecycle policy to move the statements to Amazon S3 One Zone-Infrequent Access (S3 One Zone-IA) storage after 30 days.
Store the statements using the Amazon S3 Standard-Infrequent Access (S3 Standard-IA) storage class. Create a lifecycle policy to move the statements to Amazon S3 Glacier storage after 30 days.
Explanations:
While Amazon S3 Standard is suitable for frequently accessed data, moving to S3 Glacier after just 1 day is inefficient since the statements are accessible for 30 days. This results in unnecessary costs for frequent access before moving to Glacier, which is optimized for archival storage.
Storing statements directly in S3 Glacier is not appropriate as this storage class is designed for data that is rarely accessed. Since customers can download their statements for 30 days, this would make retrieval more expensive and impractical compared to using a more accessible storage class.
Storing statements in S3 Standard and moving them to S3 One Zone-IA after 30 days is not the best option. One Zone-IA is cost-effective for infrequently accessed data, but considering the statements are downloadable for 30 days, moving them to a cheaper archival solution like Glacier would be more cost-effective after their usage period.
Storing the statements in S3 Standard-IA allows for efficient access during the 30-day download period while optimizing costs. After 30 days, moving them to S3 Glacier provides a low-cost option for long-term storage, suitable for data that is rarely accessed after the initial period.
As I see it, the answer is:
Store the statements using the Amazon S3 Standard-Infrequent Access (S3 Standard-IA) storage class. Create a lifecycle policy to move the statements to Amazon S3 Glacier storage after 30 days.