The correct answer is Amazon S3 Glacier because it is designed for long-term storage of data that is infrequently accessed and where retrieval times of several hours are acceptable. With this service, companies can significantly save on storage costs compared to other options that provide faster retrieval times. Amazon S3 Glacier provides retrieval options that can range from a few minutes to several hours, making it an optimal choice for the given scenario.

The incorrect options include services that are either too expensive for infrequent access (Amazon S3 Standard) or have retrieval times that are faster but also lead to higher costs and are thus not necessary given the company’s requirements (Amazon S3 Standard-Infrequent Access). Amazon S3 One Zone-Infrequent Access is not suitable in this case because it is designed for infrequently accessed data where data storage is in a single Availability Zone only, and there is no specified requirement for this in the scenario provided.