Cloud users can significantly reduce their cost (by up to 60%) by reserving virtual machines (VMs) for long periods (1 or 3 years) rather than acquiring them on demand. Unfortunately, reserving VMs exposes users to demand risk that can increase cost if their expected future demand does not materialize. Since accurately forecasting demand over long periods is challenging, users often limit their use of reserved VMs. To mitigate demand risk, Amazon operates a Reserved Instance Marketplace (RIM) where users may publicly list the remaining time on their VM reservations for sale at a price they set. The RIM enables users to limit demand risk by either selling VM reservations if their demand changes, or purchasing variable- and shorter-term VM reservations that better match their demand forecast horizon. Clearly, the RIM's potential to mitigate demand risk is a function of its price characteristics. However, to the best of our knowledge, historical RIM prices have neither been made publicly available nor analyzed. To address the problem, we have been monitoring and archiving RIM prices for 1.75 years across all 69 availability zones and 22 regions in Amazon's Elastic Compute Cloud (EC2). This paper provides a first look at this data and its implications for cost-effectively provisioning cloud infrastructure.
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Hedge Your Bets: Optimizing Long-term Cloud Costs by Mixing VM Purchasing Options
Cloud platforms offer the same VMs under many purchasing options that specify different costs and time commitments, such as on-demand, reserved, sustained-use, scheduled reserve, transient, and spot block. In general, the stronger the commitment, i.e., longer and less flexible, the lower the price. However, longer and less flexible time commitments can increase cloud costs for users if future workloads cannot utilize the VMs they committed to buying. Large cloud customers often find it challenging to choose the right mix of purchasing options to reduce their long-term costs, while retaining the ability to adjust capacity up and down in response to workload variations.To address the problem, we design policies to optimize long-term cloud costs by selecting a mix of VM purchasing options based on short- and long-term expectations of workload utilization. We consider a batch trace spanning 4 years from a large shared cluster for a major state University system that includes 14k cores and 60 million job submissions, and evaluate how these jobs could be judiciously executed using cloud servers using our approach. Our results show that our policies incur a cost within 41% of an optimistic optimal offline approach, and 50% less than solely using on-demand VMs.
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- NSF-PAR ID:
- 10192800
- Date Published:
- Journal Name:
- 2020 IEEE International Conference on Cloud Engineering (IC2E)
- Page Range / eLocation ID:
- 105 to 115
- Format(s):
- Medium: X
- Sponsoring Org:
- National Science Foundation
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