Profit Maximization for Service Providers using Hybrid Pricing in Cloud Computing

Abstract

Cloud computing has recently emerged as one of the buzzwords in the IT industry. Several IT vendors are promising to offer computation, data/storage, and application hosting services, offering Service-Level Agreements (SLA) backed performance and uptime promises for their services. While these "clouds" are the natural evolution of traditional clusters and data centers, they are distinguished by following a pricing model where customers are charged based on their utilization of computational resources, storage and transfer of data. They offer subscription-based access to infrastructure, platforms, and applications that are popularly termed as IaaS (Infrastructure as a Service), PaaS (Platform as a Service), and SaaS (Software as a Service). In order to improve the profit of service providers we implement a technique called hybrid pricing , where this hybrid pricing model is a pooled with fixed and spot pricing techniques.