Pricing model for revenue generation using Recurrent Neural Network for Cloud service provider

Abstract

Success of any product may depend on the price of product. Demand of a product is one of the factors to be considered for deriving price of the product. As many IT companies have started to move towards the cloud computing and cloud resources are delivered as product over internet. There are many companies providing cloud services like salesforce.com, Amazon AWS, Microsoft azure etc. Different cloud service providers have different pricing policies to enhance the revenue and user satisfaction. The cloud providers have pricing schemes for cloud resources under fixed pricing and dynamic pricing. Some of them favor cloud providers, other cloud consumers. The paper presents a model to predict the price of cloud resource using Recurrent Neural Network(RNN) and auctioning method based on the parameters (as demand). The paper would give insight to researchers and cloud service providers to derive the policies based on the demand and other features.