Which statement best describes Amazon Simple Storage Service Glacier (Amazon S3 Glacier)?

Amazon Simple Storage Service Glacier (Amazon S3 Glacier) is indeed best described as a low-cost object storage service specifically designed for data archiving. This service is tailored for scenarios where data is infrequently accessed but needs to be retained for long periods, such as regulatory compliance, backup, and archive use cases.

The primary benefits of Amazon S3 Glacier include its cost-effectiveness, allowing for significant savings compared to standard storage options when retaining large volumes of data that are rarely accessed. S3 Glacier provides different retrieval options that allow users to access their archived data based on their specific needs, further enhancing its usability for archival purposes.

This focus on archiving sets it apart from other storage solutions that are optimized for high-performance or frequently accessed data, which would not align with the intended use of S3 Glacier.