Economic and Technical Assessment of Cloud Computing

Abstract

This position paper presents the current state of the research that aims to assess the economic and technical benefits of cloud computing and to uncover best practices and lessons learned by service providers as well as clients. In the first phase of the study, based on a review of the recent literature on cloud computing principles, applications, achievements and challenges, variables that determine cloud performance and benefits have been identified. Then, axioms and hypotheses on the interrelationships between the variables have been formulated. Verification of the conceptual network of axioms and hypotheses entails exploratory and validatory case studies. The paper elucidates the strengths and weaknesses, while pointing out the opportunities and threats involved in cloud operation and adaptation, specifically in private organizations.