Cloud computing is Internet-based computing when resources like storage, applications or servers are used by the organizations or users via Internet. The data could be accessed any time from any place, without any installations and is stored and processed in third-party data centers which could be located anywhere in the world.
Cloud computing is considered to lower organization’s costs by avoiding the need of purchasing servers as well as to speed up the processes with less maintenance needed. Due to data being centralized at one place, it is considered to be secure and easily shared across bigger amount of users.
Example
A company creates construction machines. It has factories at more places in the world. It uses a cloud storage to store the construction documents and instructions. This data can be accessed by employees in all its factories simply via Internet.