The push for "Cloud computing" is almost entirely financial shystery.
1) it allows for even BIGGER-data. (As if Google, FaceBook, and pals didnt have big enough data already...) This is because many users/subscribers put their data into the cloud provider's basket, rather than forcing said big data company to have to scrape that data together themselves. It's like opening your wallet, and having money simply jump inside.
2) It theoretically allows big companies that have big data to spend less money managing it by leveraging cheap, 3rd world data centers and IT staff (with all the perils and pitfalls that brings!)
So, to poorly informed or just plain incompetent business management types, you have two sides of this fence. For the first, you have the business managers at FaceBook, Google, and pals, who make serious bank on analytics of other people's data. Naturally, the more data they can get their dirty little hands on, so they can better tell what time of the month you need to go buy Kotex brand products for their specially targeted adverts, the more ...'excited'... they get about the idea, and the harder they push for it. Why spend so much money on subversive data collection stratagems, like the infamous EverCookie, when you can just put a great big funnel on your datacenter, put a coinslot on, and a cardboard sign that says "Cheap remote storage!" instead? On the other side of the fence, you have the business managers involved in daily operations of data mining infrastructures and data warehousing services who look at the volatility of energy prices, increasing regulations on the construction of datacenters, the congestion of network pipes, the squabbling between backbone operators over peering arrangements, etc. Making their infrastructure problems somebody else's problem says BONUS written all over it.
Then, you have people like us, who likely either work in engineering, computer security, network administration, or software development--- We see cloud computing for what it is-- A throwback to 1970s mainframe thinking before the days of ubiquitous storage and processing in abundant, and inexpensive consumer hardware, a security risk on the same scale as outsourcing the US's military research and development prototyping to China or Iran, Trading problems with availability that could be locally abbrogated in the event of a failure with a single point of failure on a very fragile and volatile medium (Your whole damn enterprise could be threatened by a DDoS, since you couldnt even get to your expense sheets, because they are actually stored in India, and you are in 'Frisco, Damn it!), Exposing 100% of your sensitive data to a public network interface, and greatly increasing your networking requirements, and basically a death to locally run software stacks everywhere, which would seriously strangle our technological civilization in its crib.
Cloud Computing is only attractive to people who see the world only as a source of dollar signs. The sensible thing to look for is improved power efficiency in data center grade gear, improvements in bandwidth of networking tech, and better information security practices, with abundant learning opportunities for career seekers outside of sensitive corporate systems. (hobby programming is unbelievably important to today's digital ecosystem-- but the "OMG! Cloud will make me RIIIIICH!! ELEVENTY ONE!" crowd does not progress beyond the immediate, to the ultimate consequence of massive cloud adoption: The costs of general purpose consumer programmable computers for general consumption by the public will decline in favor of dumb terminals that are easier to manufacture, and with it, so too will hobby programming, resulting in a massive decline in available IT and software development labor.
The cloud is simply poisonous in most cases that aren't simply a casual matter. Things like hosting one-off images to share on a forum are perfect uses for cloud computing data centers. Storing all your company's ledgers and other vital data online so you can switch to cromeOS and use google office? POISON! You are one terrorist attack on undersea cables away from losing weeks or months of business, AT THE BEST! At the worst, you traded locally upgradable infrastructure for putting your balls into your ISP's hands! I sure hope they dont squeeze you too hard, knowing full well that they have you tied down and cornered with their local service franchising monopolies, last mile restrictions, and other abusive tactics that make them the sole provider between you and your data! What, you went over your 10tb limit!? WEEEELLL Say hello to the 10,000$ service charge! You're a big company, you can pay it!--- That and the cloud operator's hands-- why, they might just accidentally delete all your data, and then where would you be? Better "upgrade" to the "Protected storage" offering! (For the tune of an additional 250k a year.)
I realize that I sound like a tinfoil hat conspiracy junky, or a rabid follower of RMS at the moment, but seriously--- the modern technological information society we all profit from came about because of cheap, ubiquitous computing power. Cloud computing is the exact antitheses of that! Look at the reasons why cheap computing is cheap, and then factor heavy cloud migration into the mix. The prognosis is NOT good. Short term profit spike, long term depression in growth. Only a complete idiot would think the cloud is magical.
Sadly, MBAs tend to be complete idiots these days, and seem to be TRAINED to ignore long term impact studies.