Hi @Gianluca Gippetto , welcome to Microsoft Q&A forum.
IO_Concumption_percent refers to the IOPS in use. This metric tells us at what point of time what was the IO consumption of our Azure MySQL Server relative to the maximum IOPS configured for server.
As an example for Single Server General Purpose tier 3 IOPS per GB is configured. So if we select a storage size of 100 GB then max IOPS will be 300. The metric IO Percent will then show the IO Percent in use keeping 300 as 100%. That means if IOPS is 150 for any interval it should be shown as 50% on the graph.
Azure Database for MySQL pricing tiers
Max IOPS configuration is little different in Flexible Server but the metric will be shown in similar way discussed above:
Compute and storage options in Azure Database for MySQL - Flexible Server
If we need more IOPS than the max IOPS based on compute then you need to scale your server's compute.
Please let us know if this helps or else we can discuss further.