A lot of work on resource estimation has been carried out in the area of cloud computing. For example, some recent models assign resources based on the history of the users and the utilization of the cloud resource pool. Although these models have generally shown an increase in server utilization, they lack a cost-benefit analysis to know the profit margin obtained by the respective resource allocation schemes. Therefore, a complete model to analyze the cost could be a valuable tool for IaaS cloud service providers (CSP) to compare various resource assignment mechanisms. In this paper, we introduce a Relinquishment-Aware Cloud Economics Model (RACE) to calculate the net profit in a cloud provider environment. Our model includes various parameters such as service price, income from resources used by cloud service customers (CSC), service utilization, number of servers, electricity cost, and service relinquishment cost. The noteworthy contribution of our model is that it includes the cost incurred when users are leaving the cloud provider before their scheduled end time. We consider this loss as relinquishment cost or opportunity cost loss. After implementing our model, we evaluate different resource allocation schemes in a finite resource pool environment. The preliminary results show that blindly assigning more resources does not necessarily generate more profit.

Additional Metadata
Keywords cloud computing, cloud economics, cost-benefit analysis, relinquishing cost, resource management
Persistent URL dx.doi.org/10.1109/ICT.2017.7998279
Conference 24th International Conference on Telecommunications, ICT 2017
Singh, S. (Sarabjeet), Aazam, M. (Mohammad), & St-Hilaire, M. (2017). RACE: Relinquishment-Aware Cloud Economics Model. In Proceedings of the 24th International Conference on Telecommunications: Intelligence in Every Form, ICT 2017. doi:10.1109/ICT.2017.7998279