Is anyone using consumption data for allocating virtual server spend to applications?  If yes, what monitoring tools are being used?

We used this in legacy Ace.  Since we bought Chubb; and "merged" with Chubb we no longer load utilization for virtual sever to app mapping. So Yes and No.

I have seen RV Tools and NetApp used. In the AWS / Azure space the application can be applied directly to the service (VM) as a tag. I think some of the reports out of VM Ware can also provide this view, but I have not seen an implementation utilizing those. 

We are not using consumption data.  Rather, some of our tools like Puppet, SCCM, and vCenter have a field where the IT team places the application name(s).  The application names appearing in those tools were wildly inconsistent.  Therefore, through a very manual and time-consuming process, I used those fields to create a server to app mapping file with normalized application names.  Our hope is to standardize the application names in those tools.  Best wishes to you.

We have folks enter the path for the app in the application inventory, then that is sent to ServiceNow, and somehow Tanium crawls that path and pulls back everything touching the app.  The fun part is getting folks to enter a good path for the app and not 'N/A'.  Some people like to think that even if an app entry is not a 'traditional app', it should have 'N/A', so we're trying to educate folks.  If I unplug that server and your 'app' "dies", then it's sitting on something and utilizing network, so we need the path.  Then others will say 'oh we're using Pivotal and the VMs change all the time'.  I get it, but it's still consuming infrastructure.  And since our reports are based on a 'snapshot in time', it's cool if we only see the VM it's sitting on at that moment.  At least then they wouldn't get the higher taxed 'non-matching' infrastructure dollars (i.e., the fallout that we spread to certain apps that should have a path, but don't.  It's late and I'm rambling.  Running on fumes e.g., caffeine and two hours sleep, so hopefully I'm being semi-coherent lol...