The rapid evolution of processing power, storage technologies and availability of high quality broadband speed and big data have enabled the realization of a new computing model called cloud computing. In cloud computing, resources such as computing power & infrastructure, application platforms, and business processes are provided through the internet as general utilities to users in an on-demand fashion. A consumer can access and use these resources and services from anywhere and anytime through internet connection. The end user may not be aware of the equipment that is being used to provide him this service. Business enterprises are now increasingly seeking to reshape their business models to gain benefits from this new paradigm of resource sharing.
According to the National Institute of Standards and Technology (NIST, USA), US Department of Commerce, Cloud computing is defined as “a model for enabling ubiquitous convenient, on-demand network access to a shared pool of configurable computing resources (e.g. networks, servers, storage, applications, and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction.”