A system for elastic volume type selection and optimization is provided. The system may detect that a block storage volume was provisioned by a public cloud computing platform based on a first volume type identifier of a first volume type. The system may determine, based on a normalization model, a baseline operation rate and a baseline throughput rate for the provisioned block storage volume. The system may determine, based on a selected transition mode and historical performance measurements, a simulated operation rate and a simulated throughput rate. The system may communicate, in response to the simulated throughput being greater than the baseline throughput rate or the simulated operation rate being greater than the baseline operation rate, a provisioning instruction to re-provision the provisioned block storage volume on the cloud computing platform.