Optimal resource allocation and application consolidation on modern multicore systems that host multiple applications is not easy. Striking a balance among conflicting targets such as maximizing system throughput and system utilization while minimizing application response times is a quandary for system administrators. The purpose of this work is to offer a methodology that can automate the difficult process of identifying how to best consolidate workloads in a multicore environment. We develop a simple approach that treats the hardware and the operating system as a black box and uses measurements to profile the application resource demands. The demands become input to a queueing network model that successfully predicts application scalability and that captures the performance impact of consolidated applications on shared on-chip and off-chip resources. Extensive analysis with the widely used DaCapo Java benchmarks on an IBM Power 7 system illustrates the model's ability to accurately predict the system's optimal application mix. © 2012 IEEE.