In implementations of systems for cloud-based resource allocation using meters, a computing device implements a resource system to receive resource data describing an amount of cloud-based resources reserved for consumption by client devices during a period of time and a total amount of cloud-based resources consumed by the client devices during the period of time. The resource system determines a consumption distribution using each meter included in a set of meters. Each of the consumption distributions allocates a portion of the total amount of the cloud-based resources consumed to each client device of the client devices. A particular meter used to determine a particular consumption distribution is selected based on a Kendall Tau coefficient of the particular consumption distribution. An amount of cloud-based resources to allocate for a future period of time is estimated using the particular meter and an approximate Shapley value.