Cloud monitoring activity involves dynamically tracking the Quality of Service (QoS) parameters related to virtualized resources (e.g., VM, storage, network, appliances, etc.), the physical resources they share, the applications running on them and data hosted on them. Applications and resources configuration in cloud computing environment is quite challenging considering a large number of heterogeneous cloud resources. Further, considering the fact that at given point of time, there may be need to change cloud resource configuration (number of VMs, types of VMs, number of appliance instances, etc.) for meet application QoS requirements under uncertainties (resource failure, resource overload, workload spike, etc.).