Cloud computing Discussion

Suppose you needed to replace  22 physical servers that are at end of life.  You were trying to convince your boss that a cloud strategy is the best approach to replace the servers.  Your boss is interested in your idea; however, he or she asked you to submit a business case.   

To prepare for writing the business case, use this forum to discuss the following:

1. What is cloud computing?

2. What cloud computing terminology and concepts do one need to know to write the business case, why?