Abstract: Techniques for managing virtualized entities in computing systems. In a method embodiment, processing commences upon receiving I/O activity trace data associated with virtualized entities running in a computing system. Specific I/O activity attributes are extracted from the I/O activity trace data, and the I/O activity attributes are used to form a workload classification model. The workload classification model serves to assign one or more workload classifications to a respective one or more observed workloads running on the computing system. Based on the determined workload classification or classifications, recommended resource allocation operations are formed for further consideration. Considered resource allocation operations include migrations of virtualized entities from a source computing resource to a target computing resource.