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Pros
Pro Only small markup from raw instance costs
The mark up is only about 130% of the raw instance cost. This makes is one of the cheapest ES hosting options.
Pro Easy to setup
Integrates nicely with AWS ecosystem. Basically One-click setup of ES clusters.
Pro It is a part of your AWS bill
Very simple to add it if your organization is already charged from AWS.
Cons
Con Monitoring is not good
The dashboards that you get with AWS's ES are not very useful and there's no way to add additional monitoring dashboards.
Con You are at your own
Deploy is simple, after you at your own.
Con Difficult or impossible to configure many options
There is no way to change most of the configs in your ES cluster.
Con No support for TCP connectivity that is required by Java clients
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