A lake contains millions of tiny S3 objects. A proposed lifecycle policy transitions each object after a few days to reduce storage cost. Which assessment is most important before applying the policy?

1. Assume every smaller per-GB storage price guarantees lower total cost for any object size and access pattern.
2. Evaluate storage-class minimums, object-size eligibility, transition request costs, retrieval needs, and whether compaction would improve the economics.
3. Ignore retrieval latency because every archive tier supports identical immediate-access behavior.
4. Assume a lifecycle transition merges many tiny source objects into one larger object automatically.