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There is a subtle yet important difference between real time usage vs the allocated view of cloudstack. Allocated capacity refers to the resources reserved by MS .
So for example if your whereas real time usage as the name refers is the actual usage (So for storage it is analogous to "df -h" (Linux command)).
Example MS has the following configuration : 2GB RAM, 2GHZ CPU, 10GB storage.

Lets say you choose a service offering of 1GB RAM and , 1GHZ CPU and 5gb disk for deploying a vm, MS then reserves these capacities from its physical resources exclusively for this vm. While the vm's "actual usage" might be significantly less (say .1gb RAM , 128MHZ CPU and 1 gb storage) than the allocated(reserved) capacity. Assuming this to be the only vm in the system, the dashboard would display the following values.
Allocated RAM - 1/2 (50%)
Allocated CPU - 1/2 (50%)
Allocated Storage - 5/10 (50%)
Storage Used - 1/10 (10%) (analogous to "df -h" (Linux command))

Ideally we wouldn’t want to have a huge difference between allocated and real time usage and hence the notion of overprovisioning.

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