Jay Runkel presented a methodology for sizing MongoDB clusters to meet the requirements of an application. The key steps are: 1) Analyze data size and index size, 2) Estimate the working set based on frequently accessed data, 3) Use a simplified model to estimate IOPS and adjust for real-world factors, 4) Calculate the number of shards needed based on storage, memory and IOPS requirements. He demonstrated this process for an application that collects mobile events, requiring a cluster that can store over 200 billion documents with 50,000 IOPS.