Pros and cons of cloud computing

Cloud-based computing has emerged as a flexible, secure and effective solution for many businesses, large and small. The cost and time saving can be huge and the agility offered with such a solution can enable incredible business growth and goal achievement. But cloud computing isn't one-size-fits-all. What may work for a national construction company may not work for a local media company and vice versa.

What are some pros, cons and considerations when looking to transition to the cloud?