Very broadly, cloud storage refers to an arrangement whereby data is stored on a drive inside a server and made available through a software platform. The server may be located either in-house or externally, depending on the situation. The advantage of cloud storage is that this data can then be accessed from anywhere across the world as long as you have access to the software and a decent internet connection, without any geographical limitations.
For businesses, this helps foster better collaboration among your team members and provide an important layer of security in the event of data loss. When data is stored externally with a dedicated service provider and made available via a software platform, it’s called storage as a service (or StaaS). StaaS providers are companies that specialise in cloud storage solutions for businesses and individuals, offering economical options to store, manage, and access data at scale.