One of our primary goals at Flux7 Labs is to help our clients reduce their AWS costs. In fact, our product VyScale is based entirely on cost optimization using Spot instances. We inform our clients when it makes economic sense for them to buy instance reservations because reservations for periods of unexpected minimum usage can be beneficial. Reserved instances function exactly like on-demand instances, except that you pay an upfront fee to gain cheaper hourly rates.
At Flux7 Labs, as part of our consulting, we found ourselves solving the same problems in cost and performance optimization for our clients. We have productized some of these learnings into our product VyScale. A major feature of VyScale is its management of spot instances. We have been working closely with users of spot instances and Amazon to come up with strategies to use spot instances. As part of that, today, we hosted a Hangout on spot instances. The idea was to get people out from working in silos and offering a platform to share knowledge and ideas.