Price
is an indication of utilization or the value of a resource; high utilization increases the price. In on-prem
environments, price is based on congestion, and resource prices grow
asymptotically with percent utilization. In the Cloud, pricing is based on
actual dollar cost.
The price that a seller charges for a resource changes according to the
seller’s supply. As demand increases, prices increase. As prices change,
buyers and sellers react. Buyers are free to look for other sellers that
offer a better price, and sellers can duplicate themselves (open new
storefronts) to meet increasing demand.
Turbonomic uses its Economic
Scheduling Engine to analyze the market and make these decisions. The effect
is an invisible hand that dynamically guides your IT infrastructure to the
optimal use of resources.