Paper Info
Title
Value of information based scheduling of cloud computing resources.
Abstract
Traditionally, heavy computational tasks were performed on a dedicated infrastructure requiring a heavy initial investment, such as a supercomputer or a data center. Grid computing relaxed the assumptions of the fixed infrastructure, allowing the sharing of remote computational resources. Cloud computing brought these ideas into the commercial realm and allows users to request on demand an essentially unlimited amount of computing power. However, in contrast to previous assumptions, this computing power is metered and billed on an hour-by-hour basis.In this paper, we are considering applications where the output quality increases with the deployed computational power, a large class including applications ranging from weather prediction to financial modeling. We are proposing a computation scheduling that considers both the financial cost of the computation and the predicted financial benefit of the output, that is, its value of information (VoI). We model the proposed approach for an example of analyzing real-estate investment opportunities in a competitive environment. We show that by using the VoI-based scheduling algorithm, we can outperform minimalistic computing approaches, large but fixedly allocated data centers and cloud computing approaches that do not consider the VoI.
Year
DOI
Venue
2017
10.1016/j.future.2016.10.024
Future Generation Comp. Syst.
Keywords
Field
DocType
Cloud computing,Value of information
Financial modeling,Grid computing,Supercomputer,Computer science,Scheduling (computing),Real-time computing,Utility computing,Value of information,Data center,Cloud computing,Distributed computing
Journal
Volume
Issue
ISSN
71
C
0167-739X
Citations 
PageRank 
References 
6
0.46
22
Authors
2
Name
Order
Citations
PageRank
Ladislau Bölöni133542.82
Damla Turgut2112787.39