Optimal Resource Rental Planning for Elastic Applications in Cloud Market
This paper studies the optimization problem of minimizing resource rental cost for running elastic applications in cloud while meeting application service requirements. Such a problem arises when excessive generated data incurs significant monetary cost on transfer and inventory in cloud. The goal of planning is to make resource rental decisions in response to varying application progress in the most cost-effective way. To address this problem, the authors first develop a Deterministic Resource Rental Planning (DRRP) model, using a mixed integer linear program, to generate optimal rental decisions given fixed cost parameters. Next, they systematically analyze the predictability of the time-varying spot instance prices in Amazon EC2 and find that the best achievable prediction is insufficient to provide a close approximation to the actual prices.