Cloud Computing

Cloud computing provides dynamically scalable and virtualized resources as a service over the Internet. Cloud computing customers consume resources as a service and pay only for resources that they use. Customer can avoid hardware, software cost by renting usage from a third-party provider.

Cloud Computing offers following resources as services
software as a service (SaaS): A complete applicaton offered as a service on demand
platform as a service (PaaS): encapsulation of a developement enviroment abstarcation for every phase of software development and testing
infrastructure as a service (IaaS): delivering storage and computing capabilities as services over the network

Virtualization

Types of Virtualization
Applicaton Virtualization
OS Virtualization
Platform Virtualization
Network Virtualization