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Cloud is actually a metaphor for the Internet. Cloud computing is a paradigm in which information is permanently stored in servers on the Internet.
In Business View:
When its smarter to rent than to buy..
Techies View:
It offers the ability to access softwares or information that can be delivered ondemand, over the internet, without the need to store it locally
The IaaS layer extends the virtualization layer by providing the mechanisms to provision and control the virtual machines in a utility computing manner.
The end user is able to control cost by knowing exactly how much each virtual machine instance costs per minute/hour.
Seeks to minimize the hassle and complexity in deploying an application in the cloud.
A programming platform is presented to the end user, typically a developer at this point, which leverages and API and programming language.
PRACTICALLY LIMITLESS AND EASILY ACCESSIBLE IT SAVES THE COST OF INFRASTRUCTURE AND HARDWARE MAINTAINANCE
REDUCED COST
INCREASED STORAGE
HIGHLY AUTOMATED
FLEXIBILITY
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DATA MOBILITY
PRIVACY
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Cloud computing is still struggling in its infancy with negative and positive Comments. Academia is bit slower to react.
Its security deficiencies and benefits need to be carefully weighed before making a decision to implement it..