Day-ahead Pricing Model for Smart Cloud using Time Dependent Pricing

Abstract

Abstract-Smart clouds allow every consumer and cloud service provider a two-way communication, thus enabling cloud service provider to generate a time dependent pricing model using a feedback loop. This model charges a consumer more in peak periods and less during off peak periods, which encourages consumers to reschedule their workload to less traffic (off-peak) periods. This helps service providers to practice a versatile pricing technique to increase their profits by covering off-peak demand and minimizing the provider"s cost optimization problem. It also minimizes the execution time in setting these prices by Compromised Cost-Time Based (CCTB) scheduling. Shifting workload is a probabilistic function which tells consumers to shift their workload. This paper presents a model to calculate day-ahead prices. The proposed model dynamically adjusts the rewards or discounts based on consumer behavior in the past, and helps providers to maximize their revenue by shifting the consumers" workload.

Cloud Computing: Pricing Model

“…They can use SLAs (Service Level Agreements) between the consumers and providers to do it. An efficient economic model is being a challenge for enterprise working in the field of cloud computing [26].…”