aws_volumes.iops - (max_VolumeWriteOps + max_VolumeReadOps)
As part of the configuration settings for generating volumes in AWS, you have to preselect the amount of IOPS you’d like provisioned into the volume. Amazon then bills you for that corresponding amount provisioned IOPS (PIOPS). When you don’t execute enough reads and writes on the volumes, the volumes are underutilized and PIOPs are classified as wasted.
So if a volume has 3000 PIOPS, and for the given interval, the max write + max read IOPS is only 1000, then that volume has 2000 wasted PIOPS.