The process of transitioning all or part of a company s data, applications and services from on-site premises behind the firewall to the cloud, where the information can be provided over the Internet on an on-demand basis.
While a cloud migration can present numerous challenges and raise security concerns, cloud computing can also enable a company to potentially reduce capital expenditures and operating costs while also benefiting from the dynamic scaling, high availability, multi-tenancy and effective resource allocation advantages cloud-based computing offers.
See also Webopedia s Cloud Computing Dictionary Resource and Cloud Computing Security Challenges.