What is the alternative term for the utility billing method in cloud services?

The alternative term for the utility billing method in cloud services is commonly referred to as pay-as-you-go. This model allows customers to consume resources and services based on their actual usage, rather than committing to a fixed amount or prepaying for services in advance. Essentially, users are charged based on the resources they use, similar to how utility companies bill for water or electricity based on consumption.

This flexible pricing approach is particularly advantageous in cloud computing environments where workloads can vary dramatically. By only paying for what they need as they use it, organizations can optimize their costs and scale their services up or down accordingly. This is in contrast to other models that may require upfront commitments or fixed fees, which might not align with the unpredictable nature of cloud resource demands.