Question on AWS Cost Optimization and Resource Management

This is a very vast question. It might be helpful to know which services you are using. For example, on EC2, I would suggest using compute optimizer to find the right instance type and size and leverage autoscaling groups so that as you need resources they will be added automatically.

I suggest checking out the Cloud Financial Framework (CFF) which goes through many services and offers best practices for those.

https://catalog.us-east-1.prod.workshops.aws/workshops/86e30fc2-daf4-4708-8720-347e2b312075/en-US

You need to start with the basics of design and architecture of the workload. Apart from the business outcome, non-functional considerations like performance, RTO, RPO, peak load, how & where from the application will be accessed etc. will help you understand the requirement to optimize the design. Then you need to select the AWS services to achieve these requirements. Read through this blogpost to get an insight into architecting in AWS - Let’s Architect! Cost-optimizing AWS workloads | AWS Architecture Blog