Cloud computing is the technologically advanced facility of storing and accessing data and programs over the Internet instead on your device's hard drive. The word cloud is used in metamorphic term for the Internet. It widely represents the fact on how a cloud can store water; the essence of life and travel. The derivation also has a real relevance on how the gigantic server-farm infrastructure of the Internet appeared like a puffy, white cumulus cloud, accepting connections and doling out information as it floats.
The data needs to be synced and accessed over the internet/web for it to be considered ‘cloud computing’. Cloud works in various ways for all kinds of businesses. Some choose Software-as-a-Service (SaaS), where you can subscribe to an application that scans and collates your virtual data over the web and stores all the information at one place. Mostly used for competitive analysis of social media or complete digital presence. There's also Platform-as-a-Service (PaaS), a category of cloud computing services that provides a platform to customers to develop, run, and manage applications without the complexity of building and maintaining the infrastructure typically associated with developing and launching an app. And one cannot forget the Infrastructure-as-a-Service (IaaS), where big players like Amazon, Microsoft, Google, and many more provide a space that can be "rented out" by other firms.
Cloud computing is a huge business growing many folds every year: The market made $100 billion in the year 2012, which could be $127 billion by the end of 2017 and $500 billion by 2020. Cloud in any of its form today benefits a firm in multiple ways. Following are key advantages of Cloud in business.
Although cloud service guarantees of best security standards and industry certifications however, storing data and critical files on external service providers always threatens a risk. The ease in availability and accessibility of cloud services can also give despicable hackers the ability to scan, identify and exploit the system. However, such exploits and loopholes are not likely to surface as more and more energies are being spent on developing a secure cloud system, and the likelihood of a compromise to data or information over the cloud is not expected. Businesses of all sizes, geographies and industries are taking a leap of faith and investing in cloud services. According to Goldman Sachs, spending on cloud computing infrastructure and platforms will grow at a 30% compound annual growth rate (CAGR) from 2013 through 2018 compared with 5 percent growth for overall enterprise IT. Cloud adoption is gaining faster acceleration than predicted and from now and here the future looks cloudy and no one is complaining.