Scheduling a job to execute the data processing pipeline once an hour on a new job cluster is the most cost-effective solution given the scenario. Job clusters are ephemeral in nature; they are spun up just before the job execution and terminated upon completion, which means you only incur costs for the time the cluster is active. Since the total processing time is only 10 minutes, a new job cluster created for each hourly execution minimizes the running time and thus the cost, while also fulfilling the requirement for hourly data updates for the business reporting team's dashboards.

References:

Databricks documentation on jobs and job clusters: https://docs.databricks.com/jobs.html