In a nutshell. Cloud computing is an on-demand availabilty of computer resources including data storage and computing power over the internet. This means processing is done on the cloud infrastructure as oppossed to on the user's device.
Benefits of cloud technology
Since the application processing and or data storage is not actually done on the end user device but rather on the cloud, this allows for significant cost savings with regards to initial infrastructure investments.
With cloud computing, one can access their data and files from anywhere, using any internet enabled device such as smartphones, tablets, laptops or desktops, at their own convenience. This helps to promote a 'work-from-anywhere' approach thus working from home is made a breeze.
With all the data being hosted on the cloud, recovering and restoring data is far much easier than having to worry about a laptop dying with all your work on the hard drive. It happens.
Cloud computing enables users from different geographic locations to collaborate on a project with ease.
Cloud applications are always updated to patch security flaws detected so as to keep the plaform and user data safe.