An apparatus comprises at least one processing device comprising a processor coupled to a memory. The at least one processing device is configured to select an application workload running on a storage system, and to identify one or more copies of the application workload running on the storage system. The at least one processing device is also configured to determine an amount of storage resources of the storage system to allocate to the identified one or more copies of the application workload running on the storage system. The at least one processing device is further configured to allocate a portion of the determined amount of storage resources of the storage system to each of the identified one or more copies of the application workload.