cloud computing

Cloud computing is a technology that uses the internet
and central remote servers to maintain data and
applications. Cloud computing allows consumers and
businesses to use applications without installation
and access their personal files at any computer with
internet access. This technology allows for much more
efficient computing by centralizing storage, memory,
processing and bandwidth.
A simple example of cloud computing is Yahoo email or Gmail
etc. You dont need a software or a server to use them.
All a consumer would need is just an internet connection
and you can start sending emails. The server and email
management software is all on the cloud ( internet) and
is totally managed by the cloud service provider Yahoo ,
Google etc. The consumer gets to use the software alone
and enjoy the benefits. The analogy is , 'If you only
need milk , would you buy a cow ?' All the users or
consumers need is to get the benefits of using the
software or hardware of the computer like sending emails
etc. Just to get this benefit (milk) why should a consumer
buy a (cow) software /hardware ?
Cloud computing is broken down into three segments:
"applications," "platforms," and "infrastructure."
Each segment serves a different purpose and offers
different products for businesses and individuals around
the world. In June 2009, a study conducted by VersionOne
found that 41% of senior IT professionals actually don't
know what cloud computing is and two-thirds of senior
finance professionals are confused by the concept,
[1] highlighting the young nature of the technology.
In Sept 2009, an Aberdeen Group study found that disciplined
companies achieved on average an 18% reduction in their
IT budget from cloud computing and a 16% reduction in data
center power costs.