What services does CloudWatch provide?
Storage and access to log data from AWS services (some require a CloudWatch Agent). CloudWatch creates metrics based on logs which can be used to create CloudWatch Alarms that can trigger actions when metrics meet certain criteria.
What is a Log Stream?
An ordered set of log events from a source.
What is a Log Group?
A collection of Log Streams that logically related.
Where are CloudWatch retention policies set?
On a Log Group, which makes it apply to all Log Streams within that Log Group.