Autonomic metered pricing for a utility computing service

Authors:
Chee Shin Yeo;Srikumar Venugopal;Xingchen Chu;Rajkumar Buyya
Affiliations:
Grid Computing and Distributed Systems Laboratory, Department of Computer Science and Software Engineering, The University of Melbourne, VIC 3010, Australia;School of Computer Science and Engineering, The University of New South Wales, NSW 2052, Australia;Grid Computing and Distributed Systems Laboratory, Department of Computer Science and Software Engineering, The University of Melbourne, VIC 3010, Australia;Grid Computing and Distributed Systems Laboratory, Department of Computer Science and Software Engineering, The University of Melbourne, VIC 3010, Australia
Venue:
Future Generation Computer Systems
Year:
2010

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Abstract

An increasing number of providers are offering utility computing services which require users to pay only when they use them. Most of these providers currently charge users for metered usage based on fixed prices. In this paper, we analyze the pros and cons of charging fixed prices as compared to variable prices. In particular, charging fixed prices do not differentiate pricing based on different user requirements. Hence, we highlight the importance of deploying an autonomic pricing mechanism that self-adjusts pricing parameters to consider both application and service requirements of users. Performance results observed in the actual implementation of an enterprise Cloud show that the autonomic pricing mechanism is able to achieve higher revenue than various other common fixed and variable pricing mechanisms.