Cloud computing has been around for approximately two decades and despite the data pointing to the business efficiencies, cost-benefits, and competitive advantages it holds, a large portion of the business community continues to operate without it.
Most Cloud provider offers Pay as you Go / Consumption based pricing model. i.e. No upfront infrastructure costs. You pay for additional resources only when you need them and you can stop paying for any resources which are not in use. Cloud providers also offer better cost predictions using pricing of individual resources / services.
Another major benefit of cloud computing is the option to increase or decrease the resources based on the demand or workload. Scaling can be done automatically based on a trigger or manually. All major cloud providers supports below scaling options
Horizontal Scaling (Scale Out) : Add more servers to function as one unit.
Vertical Scaling (Scale Up): Add resources to increase the power/cpu of existing server.
Elasticity is the ability of a system to increase (or decrease) its compute, storage, networking, etc. capacity based on specified criteria such as the total load on the system.
Automate software patch maintenance, hardware setup upgrades and other IT management tasks.
Cloud computing offers Physical Security & Digital Security.