Cost-optimized parallel computations using volatile cloud resources

In recent years, the parallel computing community has shown increasing interest in leveraging cloud resources for executing parallel applications. Clouds exhibit several fundamental features of economic value, like on-demand resource provisioning and a pay-per-use model. Additionally, several cloud providers offer their resources with significant discounts; however, possessing limited availability. Such volatile resources are an auspicious opportunity to reduce the costs arising from computations, thus achieving higher cost efficiency. In this paper, we propose a cost model for quantifying the monetary costs of executing parallel applications in cloud environments, leveraging volatile resources. Using this cost model, one is able to determine a configuration of a cloud-based parallel system that minimizes the total costs of executing an application