Cloud computing is considered as a striking computing model which allows for the provisioning of resources on-demand. Cloud computing environment enables multiple users to place request for various cloud services simultaneously. Effective and efficient resource allocation is the challenging task in cloud computing. The efficiency of allocation is measured by optimizing appropriate parameters such as execution time, demand, network delay time, capacity of resources and cost. This paper reveals how effectively resource allocation problem can be addressed in the perspective of cloud service provider and also provides a comparative analysis which helps in selecting parameters to meet the objective function for optimizing the demand to maximize the profit.