Brokering Cloud Computing: Pricing Models and Simulation Approaches

Brokering Cloud Computing: Pricing Models and Simulation Approaches

Georgia Dede (Harokopio University, Greece), George Hatzithanasis (Harokopio University, Greece), Thomas Kamalakis (Harokopio University, Greece) and Christos Michalakelis (Harokopio University, Greece)
DOI: 10.4018/978-1-5225-6114-9.ch009

Abstract

Cloud computing is a rapidly evolving computational model, which has succeeded in transforming the ICT industry and the economy's production techniques by making corresponding services even more accessible to businesses, offering cost-effective solutions. The cloud broker is a new business model, derived from the necessity of finding the best provider, or the best bundle for the end user. It is a third-party business that assists clients in making the best decision in choosing the most suitable cloud provider and the most effective service bundle for their needs, in terms of performance and price. This chapter analyzes the cloud broker business model and highlights the broker's vital role and the benefits that arise from the use of its services. In that context, it describes cloud brokering and a market analysis, together with the most popular pricing models, together with a comparison among them, concluding with future directions for the expansion of the brokerage model.
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Cloud Computing

According to (Mell & Grance, 2011) cloud computing is a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications, and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction. In an easier and more comprehensive way we could define cloud as a very potent mean of optimization for business processes and minimization of costs.

At this time of its expansion cloud computing has become pretty common technology among businesses as well as government services. A short introduction to the cloud is included, for the sake of completeness. Briefly, according to (Hassan, 2011) these attributes characterize cloud computing:

  • On-Demand Computing Model: Organizations are able to escape from complex and expensive in-house infrastructure and choose the amount of resources they require for their operation.

  • Autonomous: Clients are separated from the technical details of the cloud services they use.

  • Predefined Quality of Service: Cloud providers state QoS terms in their service level agreements to inform clients about expected level of service.

  • Internet-Based: All cloud services are hosted beyond organizations and delivered over the Internet.

  • Easy-to-Use: Cloud providers offer easy-to-use interfaces that enable clients to make use of their services.

  • Scalable: Clients are not limited with fixed amounts of resources. They can scale up and down at free will.

  • Inexpensive: Cloud computing offers small-and-medium-sized enterprises (SMEs) a significantly lower-cost option than building an in-house infrastructure.

  • Subscription-Based Model: Clients subscribe to services they are interested in, and they are charged accordingly.

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