Abstract
Based on market-driven mechanisms that can improve utilization of idle compute resources at dynamic prices, spot cloud services are becoming increasingly popular to reach a win-win situation of providers' revenue maximization and consumers' budget optimization. Nevertheless, unlike fixed pricing schemes, the spot pricing scheme is both psychologically and practically sophisticated for people to understand and employ. As such, characterizing spot cloud pricing has been identified to be crucial and beneficial for various purposes ranging from facilitating service procurement to addressing service interruptions. In addition, it is also noteworthy that the spot cloud market is inherently volatile, and the providers' (e.g., Amazon's) pricing policies can change from time to time. Consequently, the previous analysis results can quickly be out of date, and the previous analysis methods can barely be reusable if their details are not specified. Therefore, we decided to develop a domain-specific method kit and make it open to improve the repeatability, replicability, and reproducibility of spot pricing characterization studies. This paper reports the typical content of this method kit, including a group of central tendency analysis methods and two types of distribution modeling analysis methods. In a generic sense, we particularly argue that open methods act as a higher-level strategy over open-source tools and open-access data for scientific studies in any research domain.
Original language | English |
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Title of host publication | Proceedings - 2019 IEEE International Conference on Cloud Computing, CLOUD 2019 - Part of the 2019 IEEE World Congress on Services |
Editors | Elisa Bertino, Carl K. Chang, Peter Chen, Ernesto Damiani, Michael Goul, Katsunori Oyama |
Publisher | Institute of Electrical and Electronics Engineers Inc. |
Pages | 470-474 |
Number of pages | 5 |
ISBN (Electronic) | 9781728127057 |
DOIs | |
Publication status | Published - 29 Aug 2019 |
Externally published | Yes |
Event | 12th IEEE International Conference on Cloud Computing, CLOUD 2019 - Milan, Italy Duration: 08 Jul 2019 → 13 Jul 2019 |
Publication series
Name | IEEE International Conference on Cloud Computing, CLOUD |
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Volume | 2019-July |
ISSN (Print) | 2159-6182 |
ISSN (Electronic) | 2159-6190 |
Conference
Conference | 12th IEEE International Conference on Cloud Computing, CLOUD 2019 |
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Country/Territory | Italy |
City | Milan |
Period | 08/07/2019 → 13/07/2019 |
Bibliographical note
Funding Information:This work was supported in part by CONICYT under Grant FONDECYT Iniciación 11180905, and in part by the National Natural Science Foundation of China (NSFC) under Grant No. 61572251.
Publisher Copyright:
© 2019 IEEE.
Keywords
- Cloud Market
- Open Method Kit
- Spot Cloud Pricing
- Spot Cloud Service
ASJC Scopus subject areas
- Artificial Intelligence
- Information Systems
- Software