How is it to maintain 100% uptime of computer/hardware on-premise, taking care of it, maintaining it with electricity as well network bandwidth, looks like a cumbersome task, isn’t it? 

Cloud computing is the on-demand delivery of compute power, database, storage, applications, and other IT resources via the internet with pay-as-you-go pricing. Whether you are using it to run applications that share photos to millions of mobile users or to support business critical operations, a cloud services platform provides rapid access to flexible and low cost IT resources.

With cloud computing, you don’t need to make large upfront investments in hardware and spend a lot of time on the heavy lifting of managing that hardware. Instead, you can provision exactly the right type and size of computing resources you need to power your newest idea or operate your IT department. You can access as many resources as you need, almost instantly, and only pay for what you use.

That’s Cloud computing for you, where you need not to worry about underlying hardware and it’s up-time, provider will take care of it and we just need to deploy our code and boom!!!! You are live on internet

Most of the leading cloud providers provide Pay as you go Model, so need no commitment, no upfront charges. You only pay for how much you are using 

Amazon Web Services(AWS), Google Cloud Platform(GCP), and Microsoft Azure are leading cloud providers nowadays. 

Benifits : 

Before cloud computing, you had to overprovision infrastructure to ensure you had enough capacity to handle your business operations at the peak level of activity. Now, you can provision the amount of resources that you actually need, knowing you can instantly scale up or down with the needs of your business. This reduces costs and improves your ability to meet your users’ demands.

The cloud allows you to trade capital expense (data centers, physical servers, etc.) for variable expense and only pay for IT as you consume it. Plus, the variable expense is much lower than what you can do for yourself because of the larger economies of scale.

With the cloud, you can easily deploy your application in multiple physical locations around the world with just a few clicks. This means you can provide a lower latency and better experience for your customers simply and at minimal cost.