Towards Graph-based Cloud Cost Modelling and Optimisation

Cloud computing has become an increasingly popular choice for businesses and individuals due to its flexibility, scalability, and convenience; however, the rising cost of cloud resources has become a significant concern for many. The pay-per-use model used in cloud computing means that costs can accumulate quickly, and the lack of visibility and control can result in unexpected expenses. The cost structure becomes even more complicated when dealing with hybrid or multi-cloud environments. For businesses, the cost of cloud computing can be a significant portion of their IT budget, and any savings can lead to better financial stability and competitiveness. In this respect, it is essential to manage cloud costs effectively. This requires a deep understanding of current resource utilization, forecasting future needs, and optimising resource utilization to control costs. To address this challenge, new tools and techniques are being developed to provide more visibility and control over cloud computing costs. In this respect, this paper explores a graph-based solution for modelling cost elements and cloud resources and potential ways to solve the resulting constraint problem of cost optimisation. We primarily consider utilization, cost, performance, and availability in this context. Such an approach will eventually help organizations make informed decisions about cloud resource placement and manage the costs of software applications and data workflows deployed in single, hybrid, or multi-cloud environments.