Patrick McDonough, Jeremiah Paguio, Albert Nunez, and Dr. Ivona Grzegorczyk
In this presentation we provide an introduction to cloud computing, an economically important way of abstracting computing resources from an economic technical and mathematical perspective. In some ways, cloud computing is simply a logical extension of the much older concept of time-sharing which had become a popular model by the 1960s. Cloud computing also refers to various Platform and Software as a Service (PaaS and SaaS respectively) offerings such as Amazon Web Services (AWS) Simple Storage Service (S3) and database offerings from various vendors. The simplest form of cloud computing, infrastructure as a Service (IaaS), is the short-term rental of servers located in a central data center. Traditionally companies would each own their own computers. This was inefficient due to, among other things, the bursty nature of computing needs. This sum-of-distributions efficiency is particularly interesting mathematically. This presentation covers multiple eras of cloud computing including both its history and current trends.