What is cloud storage and what are the pros and cons?

Definition:

Cloud storage means storage on computers that are separate from the user. These computers are owned by companies for the express purpose of allowing people to store their data. The Internet provides access to these computers.

Cloud examples that many people already use are iCloud, OneDrive, DropBox, and Google Drive.

Pros:

• Backup separate from your device – The cloud enables online storage that somebody else physically maintains. A device that is backed up in the cloud will not lose information, even if the device is destroyed.
• The cloud lets users freely share and access data at any time, from anywhere, from any device. This allows sharing with other people as well as across your own devices.

Cons: 

• Security – Handing data off to a public cloud storage provider poses some security and privacy concerns. It is extremely rare that this actually exposes personal cloud data, although beaches do happen.
• Compliances – In some heavily regulated areas such as the medical industry, it is difficult to rely on another company to store sensitive data.
• Speed – With fast Internet and cellular data transmission rates, cloud storage has achieved very quick download and upload speeds, but it is still a little slower than local device storage.