Data Mining and Knowledge Engineering

Abstract

It is favorable that the goods, services or work are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality, quantity and time. Here our project present a cloud resource procurement approach which not only automates the selection of an appropriate cloud vendor but also implements dynamic pricing. Our project discusses on three possible mechanisms cloud-dominant strategy incentive compatible (C-DSIC), cloud-Bayesian incentive compatible (C-BIC), and cloud optimal (C-OPT). C-DSIC achieves efficient allocation and individual rationality but it is not budget balanced. C-BIC achieves budget balancing and allocation efficiency but not individual rationality. C-OPT mechanism is to address the limitations of both the C-DSIC and C-BIC mechanisms. In C-OPT, the cloud vendor can neither overbid nor underbid. If the cloud vendor overbid then incentive is not paid. On the other hand, if it is underbids, then it will not be the winner.

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