With this target in mind, decision to choose between cloud computing vs virtualization depends on the broader vision of the company’s desired IT infrastructure and other various factors, such as budged and willingness to hire additional specialists.

Eventually this technology grew to fully abstract software and hardware layers, making them independent from one another.

Virtualization allows to save hardware resources and provides flexible easy-to-manage solution that can be quickly provisioned as needed, allowing for cost-effectiveness and flexible dynamic infrastructure.

From consumer point of view, cloud resources should feel unlimited with the ability to quickly provision more at any time.

Number of used resources should be monitored and controlled, and users are usually charged as they go, proportionally to the amount of resources they are using.

Data centers and infrastructure for this type of services are usually maintained by providers themselves.

The text above is a summary, you can read full article here.