1. A method comprising: executing a plurality of virtual machines on a plurality of nodes of a cluster computing system, wherein at least one application is executed within each of said plurality of virtual machines; generating data that is related to performance of applications in said virtual machines; analyzing, by a management process, said data in view of parameters that encode desired performance levels of applications; and migrating, by said management process, a virtual machine on a first node to a second node of said plurality of nodes in response to said analyzing.