What is Cloud Computing?

Cloud Computing - NIST* Definition (*National Institute of Standards and Technology)

Cloud computing is a model for enabling convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications, and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction.

but ….. this is a

technology centric definition. From a Business Point of View....

Cloud computing is a model for enabling cost effective business outcomes through the use of shared application and computing services.  The value …. if possible …. is better economics in the execution of business processes.