Elastic computing is a concept in cloud computing in which computing resources can easily be scaled up and down by the cloud service provider. In short the provision of flexible computing power as and when required. In reality, cloud elasticity only applies to e-commerce; mobile and web development; and SaaS, as well as any other software development companies.
Elasticity aims at providing a service with the actual amount of resources it requires. Nor under-provisioning neither over-provisioning. Allocation of more than required resources should be avoided as the service provider has to pay for the resources allocated. Under-provisioning should be avoided as it does not provide good service to its customers.
Elastic application continuously allocates and deallocates computer resources according to their use, making cloud resources more volatile and traditional monitoring tools for monitoring the usage.
The Amazon EC2 is a web service that provides resizable compute capacity in the cloud. EC2 is a virtual computing environment, that enables customers to use Web service interfaces to launch instances with a variety of operating systems, load them with your custom applications, manage your network’s access permissions, and run your image using as many or few systems as you need.