An operator graph analysis mechanism analyzes an operator graph corresponding to an application for problems as the application runs, and determines potential reallocations from a reallocation policy. The reallocation policy may specify potential reallocations depending on whether one or more operators in the operator graph are compute bound, memory bound, communication bound, or storage bound. The operator graph analysis mechanism includes a resource reallocation mechanism that can dynamically change allocation of resources in the system at runtime to address problems detected in the operator graph. The operator graph analysis mechanism thus allows an application represented by an operator graph to dynamically evolve over time to optimize its performance at runtime.