An application runs on an Amazon EC2 instance with an attached Amazon EBS Provisioned IOPS (PIOPS) volume. The volume is configured at 200-GB in size and has 3,000 IOPS provisioned. The application requires low latency and random access to the data. A Solutions Architect has been asked to consider options for lowering the cost of the storage without impacting performance and durability. What should the Solutions Architect recommend?