A cloud services client is experiencing slow performance and intermittent service outages on their virtualized application servers. During peak usage times, users report that the application becomes unresponsive. The virtual machines are hosted on a shared infrastructure, and you suspect the issue may be related to resource management. What is the BEST initial step to diagnose and resolve the problem?
Review resource allocation and usage patterns on the shared infrastructure to check for signs of oversubscription.
Update the network drivers on the virtual machines to ensure proper connectivity during peak loads.
Replace the storage device on the server as it might be failing and causing the application to become unresponsive.
Upgrade the application to the latest version to resolve any unresponsiveness and performance lags.