A system for detecting a code defect associated with a cloud-based application service, comprising: a memory for storing executable program code; and one or more processors, functionally coupled to the memory, the one or more processors being responsive to computer-executable instructions contained in the program code and operative to: identify a correlation between an operation failure spike in a first development ring for a software build and an operation failure spike in a second development ring for the software build, wherein the first development ring is an outermost development ring prior to a production environment for the software build and comprises a level of testing for the software build, and wherein the second development ring precedes the first development ring and comprises another level of testing for the software build; determine that an operation failure spike corresponding to the first failure spike did not exist for a previous version of the software build; determine that an operation failure spike corresponding to the second failure spike did not exist for a previous version of the software build; and flag an operation associated with the failure spikes as being related to the code defect; wherein an identifiable correlation between the operation failure spike in the first development ring for the software build and the operation failure spike in the second development ring for the software build comprises a ratio of a number operation failures for the operation over a specified duration of time in the first development ring, to a number of operation failures for the operation over a specified duration of time in the second development ring. a memory for storing executable program code; and one or more processors, functionally coupled to the memory, the one or more processors being responsive to computer-executable instructions contained in the program code and operative to: identify a correlation between an operation failure spike in a first development ring for a software build and an operation failure spike in a second development ring for the software build, wherein the first development ring is an outermost development ring prior to a production environment for the software build and comprises a level of testing for the software build, and wherein the second development ring precedes the first development ring and comprises another level of testing for the software build; determine that an operation failure spike corresponding to the first failure spike did not exist for a previous version of the software build; determine that an operation failure spike corresponding to the second failure spike did not exist for a previous version of the software build; and flag an operation associated with the failure spikes as being related to the code defect; wherein an identifiable correlation between the operation failure spike in the first development ring for the software build and the operation failure spike in the second development ring for the software build comprises a ratio of a number operation failures for the operation over a specified duration of time in the first development ring, to a number of operation failures for the operation over a specified duration of time in the second development ring. identify a correlation between an operation failure spike in a first development ring for a software build and an operation failure spike in a second development ring for the software build, wherein the first development ring is an outermost development ring prior to a production environment for the software build and comprises a level of testing for the software build, and wherein the second development ring precedes the first development ring and comprises another level of testing for the software build; determine that an operation failure spike corresponding to the first failure spike did not exist for a previous version of the software build; determine that an operation failure spike corresponding to the second failure spike did not exist for a previous version of the software build; and flag an operation associated with the failure spikes as being related to the code defect; wherein an identifiable correlation between the operation failure spike in the first development ring for the software build and the operation failure spike in the second development ring for the software build comprises a ratio of a number operation failures for the operation over a specified duration of time in the first development ring, to a number of operation failures for the operation over a specified duration of time in the second development ring.