Are you familiar with cloud computing? It’s become a hot topic among business owners in recent years. Cloud computing is essentially the on-demand use of remote computing resources. Rather than using locally installed on-premise computers, you can use a cloud computing service. The cloud computing service will provide you with computing resources like Central Processing Unit (CPU) power, disk space, databases and more. Here are six facts about cloud computing.

#1) Term Coined By Former Google CEO

While the concept of using remote computing resources has been around for a while, it wasn’t until 2006 that the term “cloud computing” emerged. During an industry conference, former Google CEO Eric Schmidt referred to this concept as “cloud computing.”

#2) 60% of All Business Data Is Stored in the Cloud

To say there’s a lot of data stored in the cloud would be an understatement. Statistics show that approximately 60% of all business data is stored in the cloud. Many consumers store their data in the cloud as well, but cloud storage solutions are particularly popular among businesses. They offer a convenient, cost-effective way for businesses to store large amounts of data.

#3) Public and Private Clouds Available

Not all clouds are the same. There are public clouds, and there are private clouds. Public clouds are services sold by cloud providers to multiple businesses. Private clouds, on the other hand, are exclusive to a single business.

#4) Amazon Is the Biggest Cloud Service Provider

There are dozens of cloud service providers. The biggest cloud service provider, however, is Amazon. In 2006, the e-commerce giant launched its own cloud computing service. Known as Amazon Web Services (AWS), it quickly surpassed other cloud computing services. AWS is now the internet’s biggest cloud service provider. It’s estimated that AWS accounts for over 40% of the entire cloud computing market.

#5) Protects Against Data Loss

A benefit of cloud computing that’s often overlooked is protection from data loss. If you only store data locally, you may experience a data loss event. The computer or device on which you store the data may fail, thus rendering the data inaccessible. With a cloud computing service, you can store your data remotely as well. Even if your computer or device fails, you can still retrieve your data from the remote cloud server.

#6) Multiple Service Models

There are multiple cloud computing service models, some of which include infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS). They all involve the use of remote computing resources, but they feature their own unique characteristics.