The Economic Perspective of Cloud Computing

Cloud computing is an innovative, emerging and a novel phenomenon that paves the way for provisioning of infinitely scalable, re-usable, multipurpose, flexible, cost-saving, efficient and customizable on-demand information technology services and products. The promise of cloud computing is to deliver all the functionality of existing information technology services (and in fact enable new functionalities that are hitherto infeasible) even as it dramatically reduces the upfront costs of computing that deter many organizations from deploying many cutting-edge IT services.