Cloud Computing : A Profitable New Business Model

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Cloud computing is a relatively new business model in the computing world. According to the official NIST definition, "cloud computing is a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction." The NIST definition lists five essential characteristics of cloud computing: on-demand self-service, broad network access, resource pooling, rapid elasticity or expansion, and measured service. It also lists three "service models" (software, platform and infrastructure), and four "deployment models" (private, community, public and hybrid) that together categorize ways to deliver cloud services. The definition is intended to serve as a means for broad comparisons of cloud services and deployment strategies, and to provide a baseline for discussion from what is cloud computing to how to best use cloud computing.[1] Cloud computing is a popular and widely accepted paradigm built concepts such as on-demand computing resources, elastic scaling, elimination of up-front capital and operational expenses, and establishing a pay-as-you-use business model for computing and information technology services. And the adoption of virtualization, service oriented architectures, and utility computing there has been a significant development in the creation of cloud
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