CloudWatch Logs metric filters allow log data to be converted into CloudWatch metrics in near real time. This enables continuous monitoring without custom code or scheduled queries. Metric filters are ideal when log events have a consistent structure and specific patterns, such as HTTP response codes.

By defining a metric filter that matches HTTP 404 responses, CloudWatch can increment a metric each time a 404 occurs. This metric can then be used for dashboards, alarms, and trend analysis. This approach is fully managed, scalable, and requires minimal operational effort.

Options B, C, and D rely on subscription filters or periodic queries, which introduce unnecessary complexity, latency, and maintenance overhead. Therefore, metric filters are the most efficient solution.