Cloud computing service models are based on the concept of sharing on-demand computing resources, software, and information over the internet. Companies or individuals pay to access a virtual pool of shared resources, including compute, storage, and networking services, which are located on remote servers that are owned and managed by service providers.
One of the many advantages of cloud computing is that you only pay for what you use. This allows organizations to scale faster and more efficiently without the burden of having to buy and maintain their own physical data centers and servers.