Next generation IT infrastructures are highly driven by virtualization technology. The latter enables flexible and efficient resource sharing allowing to improve system agility and reduce costs for IT services. Due to the sharing of resources and the increasing requirements of modern applications on I/O processing, the performance of storage systems is becoming a crucial factor. In particular, when migrating or consolidating different applications the impact on their performance behavior is often an open question. Performance modeling approaches help to answer such questions, a prerequisite, however, is to find an appropriate workload characterization that is both easy to obtain from applications as well as sufficient to capture the important characteristics of the application. In this paper, we present an automated workload characterization approach that extracts a workload model to represent the main aspects of I/O-intensive applications using relevant workload parameters, e.g., ...