Cloud computing – in plain English

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Cloud
  Computing refers to the delivery of computing and storage capacity as a service to a heterogeneous community of end-recipients. Cloud is a computing model providing web-based software, middleware and computing resources on demand. By deploying technology as a service, you give users access only to the resources they need for a particular task. You pay for what you use! and prevents you from paying for idle computing resources. Cloud computing can also go beyond cost savings by allowing your users to access the latest software and infrastructure offerings to foster business innovation.

This video talks about: what CLOUD Computing is all about! and of course its importance.
http://www.youtube.com/watch?v=Sgb62RQec8Q