1. A computing device comprising: a memory containing machine readable medium comprising machine executable code having stored thereon instructions for performing a method of managing application performance; a processor coupled to the memory, the processor configured to execute the machine executable code to: receive storage requests from a plurality of first applications via a network interface; in response to receiving an accelerate command associated with a second application, the second application being one of the first applications, the accelerate command including a request to allocate more resources to the second application: increase a first partial share of a storage resource allocated to the second application, an amount the first partial share is increased being based on a percentage associated with the accelerate command; decrease unlocked second partial shares of the storage resource allocated to others of the first applications that are not the second application; and lock the first partial share of the storage resource allocated to the second application, the lock preventing an amount of the first partial share from being reduced by accelerate commands for the others of the first applications that are not the second application; wherein the storage resource is selected from a group consisting of: a queue of storage requests, wherein the first partial share corresponds to a number of storage requests allocated to the second application in the queue of storage requests; and a first cache, wherein the first partial share corresponds to a percentage of storage in the first cache allocated to the second application; and process the storage requests using the storage resource according to the first and second partial shares of the storage resource.