Optimize a resource allocation plan corresponding to a legacy software product sustenance

A system for optimizing a resource allocation plan corresponding to a legacy software product, the system comprising:

• a memory;
• a processor coupled to the memory, wherein the processor is configured to execute programmed instructions stored in the memory for:
• identifying data pertaining to a set of entities, wherein each entity corresponds to a legacy software product;
• receiving one or more user defined constraints, social analytics data, and historical data corresponding to each entity, wherein the historical data is received from a historical data repository, and wherein the social analytics data is received from a social networking platform;
• analyzing the historical data based on defined ontology to generate synthetic data corresponding to the set of entities, wherein the synthetic data is determined based on usage patterns corresponding to the set of entities;
• generating a simulation model to simulate the legacy software product support scenarios based on the ontology and the synthetic data in order to determine one or more factors affecting a resource allocation plan pertaining to the legacy software product, wherein the simulation model is generated based on at least one simulation technique of a set of simulation techniques;
• and
• optimizing the resource allocation plan based on the one or more factors, the one or more constraints and the social analytics data, wherein the resource allocation plan is optimized using at least one optimization algorithm.

A non-transitory computer readable medium embodying a program executable in a computing device for optimizing a resource allocation plan corresponding to a legacy software product, the computer program product comprising:

• a program code for identifying data pertaining to a set of entities, wherein each entity corresponds to a legacy software product;
• a program code for receiving one or more user defined constraints social analytics data, and historical data corresponding to each entity, wherein the historical data is received from a historical data repository, and wherein the social analytics data is received from a social networking platform;
• a program code for analyzing the historical data based on defined ontology to generate synthetic data corresponding to the set of entities, wherein the synthetic data is determined based on usage patterns corresponding to the set of entities;
• a program code for generating a simulation model to simulate the legacy software product support scenarios based on the ontology and the synthetic data in order to determine one or more factors affecting a resource allocation plan pertaining to the legacy software product, wherein the simulation model is generated based on at least one simulation technique of a set of simulation techniques;
• and
• a program code for optimizing the resource allocation plan based on the one or more factors, the one or more constraints and the social analytics data, wherein the resource allocation plan is optimized using at least one optimization algorithm.