There is provided a computer-implemented method for selecting from a plurality of full configurations of a storage system an operational configuration for executing an application. An exemplary method comprises obtaining application performance data for the application on each of a plurality of test configurations. The exemplary method also comprises obtaining benchmark performance data with respect to execution of a benchmark on the plurality of full configurations, one or more degraded configurations of the full configurations and the plurality of test configurations. The exemplary method additionally comprises estimating a metric for executing the application on each of the plurality of full configurations based on the application performance data and the benchmark performance data. The operational configuration may be selected from among the plurality full configurations based on the metric.