In utility computing environments, users assign a “utility” value to their jobs, where utility is a fixed or time-varying valuation that captures various QoS constraints (deadline, importance, satisfaction). The valuation is the amount they are willing to pay a service provider to satisfy their demands.
Utility Computing is a service provisioning model that offers computing resources such as hardware, software and network bandwidth to clients as and when they require them on an on-demand basis. The service providers charge only as per the consumption of the services, rather than a fixed charge or flat rate.
Utility computing is a subset of cloud computing, allowing users to scaleup and scale down based on their needs.
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