System and method for automatic block storage volume tier tuning

A method for providing data storage in a cloud infrastructure environment, comprising:

• providing, at a cloud infrastructure environment, a data storage service, provided within the cloud infrastructure environment, that provides access to infrastructure resources for storage of data, wherein cloud instances operating within the cloud infrastructure are associated with data volumes that store data for use therewith;
• wherein usage by a cloud instance of its associated data volume is monitored, and the storage of data associated with the data volume is dynamically adjusted, including
• for each extent associated with the cloud instance simulating a caching process associated therewith;
• and
• in response to simulation of the caching process, dynamically adjusting storage of data associated with the data volume, to meet performance requirements associated with the data volume.

A non-transitory computer readable storage medium, including instructions stored thereon which when read and executed by one or more computers cause the one or more computers to perform a method comprising:

• providing, at a cloud infrastructure environment, a data storage service, provided within the cloud infrastructure environment, that provides access to infrastructure resources for storage of data, wherein cloud instances operating within the cloud infrastructure are associated with data volumes that store data for use therewith;
• wherein usage by a cloud instance of its associated data volume is monitored, and the storage of data associated with the data volume is dynamically adjusted, including
• for each extent associated with the cloud instance simulating a caching process associated therewith;
• and
• in response to simulation of the caching process, dynamically adjusting storage of data associated with the data volume, to meet performance requirements associated with the data volume.