What does the Amazon S3 Intelligent-Tiering storage class offer?

The Amazon S3 Intelligent-Tiering storage class offers automatic cost savings by moving objects between tiers based on access pattern changes. This storage class is designed for data with unknown or changing access patterns. It has two access tiers: frequent access and infrequent access. Objects are stored in the frequent access tier by default, and are moved to the infrequent access tier after 30 consecutive days of no access. If an object in the infrequent access tier is accessed, it is moved back to the frequent access tier. There are no retrieval fees in S3 Intelligent-Tiering, and no additional tiering fees when objects are moved between access tiers within the S3 Intelligent-Tiering storage class1.