What is Cloud Computing?

Many Chief Executives and senior managers in the public sector would agree that despite the £millions spent by their organisation on corporate IT, the best technology experience is actually when they get home and use Google, Facebook, eBay, Twitter, etc.  

There seems to be a growing frustration that while interactive and social web facilities are increasingly designed around the users' personal needs, corporate IT systems are inflexible and dominated by the  hardware and software supported by IT managers.

Better hardware and the latest software release is offered as the panacea to every problem ....

"Insanity: doing the same thing over and over again and  expecting different results."
Albert Einstein  

Fortunately, there is a revolution going on in computing - away from the sort of hardware and software that you have towards computing and software as a service, provided on-line from a vast network of shared machines.  This, in simple terms, is 'the cloud'.  

Take a look at the youtube video below.  In three minutes it succinctly argues the business reasons for moving to 'the Cloud'.

So what's the truth?