Abstract
As the use of public cloud resource has increased, the concern on Quality of Service (QoS) and cost has also increased. Amazon Elastic Compute Cloud (EC2) introduced spot instance in late 2009, to utilize the unused resources in better manner. Price of resource varies as per the availability and requirement of resources. Users bid for the required Spot Instance (SI), it is assigned if the bid price is higher than the price set by the service provider. Spot instance lowers the cost than using reserved and on-demand instance, but compromises with reliability. As the cost plumbs over the bid price, the service gets terminated. In this paper we have studied various spot instances strategies in terms of resource allocation and bid cost. We propose a model and an algorithm for better bidding of resources, improving the execution time and providing reliability of the allocated resources to the user.
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