What is Cloud Technology?

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Cloud technology focuses on 24x7 availability of data which is geographically neutral and you just need an internet enabled device to access your data.                        
For example: Dropbox is cloud pen drive in simple words or even google drive for that matter                        
You don't need to buy big servers to get similar performances any longer, you can just subscribe to services like amazon web services or google cloud engine and select the processing power , disk space, ram and pay for the period you use that service

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