Cost Efficiency is the biggest advantage of cloud computing, achieved by the elimination of the investment in stand-alone software or servers. By leveraging cloud’s capabilities, companies can save on licensing fees and at the same time eliminate overhead charges such as the cost of data storage, software updates, management etc.
The process of backing up and recovering data is simplified since those now reside on the cloud and not on a physical device. The various cloud providers offer reliable and flexible backup/recovery solutions. In some cases, the cloud itself is used solely as a backup repository of the data located in local computers.