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.

• Low Cost: The tremendous cost saving associated with cloud computing drives many firms to operate through it. Any business can scale up its IT capability without incurring major costs. For eg: acquisition of hardware and software, license renewals, server maintenance and day to day management etc can be avoided.
• Flexibility: Businesses heavily relying on their on-the-go nature can benefit a lot through cloud. There is a 24X7 service at disposal available through cloud. More popular services for such nature of business are google and dropbox.
• Data Security & Recovery: One of the common practices in any firm/organization is taking data back-up. It becomes a huge task when you are handling big chunk of data. Cloud in this scenario acts like a remote storage device that not only safeguards your data from loss but also recovers it during contingencies.
• Environment Friendly: Big data centers in any organisations or outside need high end infrastructure for cooling systems. This is required for systems and servers to not get heated and work smoothly without any interruptions. These cooling systems consume a lot of electricity and are not environment friendly in the long run. Incorporating cloud allows you to forgo such set-ups.
• Omnipresent: Cloud is everywhere, there is no such geographical limitation to access your information via cloud. This enables anyone to access information at any time and any place. Deployment of cloud can result in better utilization of resources and savings on other costs.
• Always New: The latest version of any application is readily available through implementation of SaaS. Workers are more productive with immediate upgrades put new features and functionality into their hands. These days software improvements are typically released quite often. This is in contrast to purchased or licensed software that might have major new releases only once a year or so and take significant time to roll out.

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.