You can use AWS Cost Explorer to track your backup costs and identify areas for optimization. Monitor usage and adjust as needed: Monitor your backup usage and adjust your storage allocation as needed.You can adjust the compression and deduplication settings to optimize for storage efficiency. Consider compression and deduplication: AWS Backup includes built-in compression and deduplication to help reduce storage costs.For example, if you have 100 GB of data to backup and you want to retain backups for 30 days, you would need 3,000 GB (100 GB x 30 days) of storage. Calculate the storage requirements: Multiply the data size by the retention period to calculate the total storage requirements.The retention period will affect the amount of storage required for the backups. Determine the retention period: Decide how long you want to keep your backups.You can use AWS tools such as Amazon S3 inventory and Amazon CloudWatch to help you gather this information.

Identify the data size: Determine the amount of data that you need to backup for your EC2 instances and S3 buckets.

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