1. A method of managing data analysis applications in a computing environment, said method comprising: determining current utility of a data analysis application using an algebraic formulation or a procedural formulation to determine the current utility, said data analysis application to analyze data produced by one or more sources and comprising a model building component and a stream processing component, the model building component using input from a dataset to build an analytic model to be used by the stream processing component to process a stream of data; and automatically adjusting, periodically by a processor, at least one of allocation of resources for the model building component or a configuration of the model building component, the configuration comprising at least one configuration parameter input from a resource configuration manager to the model building component for use in building the analytic model, wherein the automatically adjusting increases the current utility of the data analysis application.