Optimal Time Dependent Pricing Model for Smart Cloud with Cost Based Scheduling

In this paper, we design and develop a pricing model applicable to smart cloud environment, "Day-Ahead" pricing. Here, a Time Dependent Pricing (TDP) scheme has been presented to increase resource provider's revenue and ensure Quality of Service (QoS) to its consumers. This model helps resource workload providers to solve the problem of cost minimization. A resource management system is developed to schedule the workload in advance for its consumers based on its previous demands. We have used Cost Based (CB) scheduling policy in our simulation. The customers will have the opportunity to shift their workload to those hours of the day when traffic is least in exchange of rewards (lower price) by the service provider.