InfluxDB 2.0 can be run on an AWS EC2 instance with Cloud Formation, filling a gap in knowledge for developers who have completed coding bootcamps. To set up the stack, users need to create an AWS account, generate a key pair, and download the private key. The stack definition includes resources such as an EC2 instance type, security group, and script that installs Docker and pulls the InfluxDB 2.0 image. Once created, users can verify the public IP address of the instance and install telegraf to collect metrics from AWS services. With InfluxDB, developers can gain real-time views into their AWS spend, monitor DevOps monitoring, application monitoring, and Amazon CloudWatch metrics, and cut costs by optimizing their AWS usage.