Cloud computing provides on-demand access to computing resources like servers, storage, databases, networking, software and analytics tools on a pay-as-you-go basis. It offers advantages like lower upfront costs, flexibility, scalability and rapid deployment of applications. However, organizations must consider security, compliance with regulations, control over the infrastructure and data, and the service level agreements of cloud providers. The document provides examples of infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS) and discusses factors to evaluate when considering moving to the cloud.