External fragmentation is a problem under some workloads, and buddyinfo is a useful tool for helping diagnose these problems. Buddyinfo will give you a clue as to how big an area you can safely allocate, or why a previous allocation failed.
cat /proc/buddyinfo Node 0, zone DMA 0 4 5 4 4 3 ... Node 0, zone Normal 1 0 0 1 101 8 ... Node 0, zone HighMem 2 0 0 1 1 0 ...
Each column represents the number of pages of a certain order which are available. In this case, there are 0 chunks of 2^0*PAGE_SIZE available in ZONE_DMA, 4 chunks of 2^1*PAGE_SIZE in ZONE_DMA, 101 chunks of 2^4*PAGE_SIZE available in ZONE_NORMAL, etc…
More information relevant to external fragmentation can be found in pagetypeinfo.