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AWS CloudFormation is a service that provides developers and system administrators with an efficient way to create and manage a collection of related AWS resources, provisioning them in an orderly and predictable fashion. It allows users to define their infrastructure as code through YAML or JSON templates, which can be versioned and reused to ensure consistent deployments across different environments. CloudFormation helps teams automate and standardize their processes, reducing the potential for human error while speeding up the deployment of applications and services.

One of the key features of AWS CloudFormation is its support for stack management. Users can create, update, and delete stacks of resources in a single operation, making it easier to manage complex applications. AWS also provides a rich ecosystem with over 200 resource types and native integration with other AWS services, which allows for seamless workflow between different components. Teams opt for CloudFormation because it results in lower operational costs through automation and enhances compliance by providing an audit trail and single source of truth for infrastructure changes. Pricing is based on usage, with no upfront fees, making it an accessible tool for organizations of various sizes.