Abstract
Advances in service-oriented architectures, virtualization, high-speed networks, and cloud computing has resulted in attractive pay-as-you-go services. Job scheduling on such systems results in commodity bidding for computing time. Amazon institutionalizes this bidding for its Elastic Cloud Computing (EC2) environment. Similar bidding methods exist for other cloud-computing vendors as well as multi–cloud and cluster computing brokers such as SpotCloud. Commodity bidding for computing has resulted in complex spot price models that have ad-hoc strategies to provide demand for excess capacity. In this paper we will discuss vendors who provide spot pricing and bidding and present the predictive models for future short-term and middle-term spot price prediction based on neural networks giving users a high confidence on future prices aiding bidding on commodity computing.
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