Applying Machine Learning in Cloud Service Price Prediction: The Case of Amazon IaaS

George Fragiadakis, Evangelia Filiopoulou, Christos Michalakelis, Thomas Kamalakis and Mara Nikolaidou ()
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George Fragiadakis: Department of Informatics and Telematics, Harokopio University of Athens, 17671 Kallithea, Greece
Evangelia Filiopoulou: Department of Informatics and Telematics, Harokopio University of Athens, 17671 Kallithea, Greece
Christos Michalakelis: Department of Informatics and Telematics, Harokopio University of Athens, 17671 Kallithea, Greece
Thomas Kamalakis: Department of Informatics and Telematics, Harokopio University of Athens, 17671 Kallithea, Greece
Mara Nikolaidou: Department of Informatics and Telematics, Harokopio University of Athens, 17671 Kallithea, Greece

Future Internet, 2023, vol. 15, issue 8, 1-19

Abstract: When exploring alternative cloud solution designs, it is important to also consider cost. Thus, having a comprehensive view of the cloud market and future price evolution allows well-informed decisions to choose between alternatives. Cloud providers offer various service types with different pricing policies. Currently, infrastructure-as-a-Service (IaaS) is considered the most mature cloud service, while reserved instances, where virtual machines are reserved for a fixed period of time, have the largest market share. In this work, we employ a machine-learning approach based on the CatBoost algorithm to explore a price-prediction model for the reserve instance market. The analysis is based on historical data provided by Amazon Web Services from 2016 to 2022. Early results demonstrate the machine-learning model’s ability to capture the underlying evolution patterns and predict future trends. Findings suggest that prediction accuracy is not improved by integrating data from older time periods.

Keywords: cloud; Amazon EC2; reserved instances; price prediction; machine learning; CatBoost (search for similar items in EconPapers)
JEL-codes: O3 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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