Cost-Efficient Utilization of Public SLA Templates in Autonomic Cloud Markets
Dynamic and self-adaptable markets are fundamental for the successful implementation of the Cloud computing paradigm where computing resources are provided on demand and dynamically to the heterogeneous user base. Usually, in Cloud markets, contracts between traders are established using Service Level Agreements (SLAs), which include objectives of service usage. However, Cloud markets face challenges, which are usually not evident in other market types, such as non-standardized goods and large variety of resource types offered on the market, resulting in low number of matches of consumers' Bids and providers' asks. Moreover, existing Cloud market mechanisms are usually static and cannot react on dynamic change of user requirements.