Cloud-based storage refers to data that is maintained, backed up, and made available to users over a network remotely rather than being stored locally. While the cloud is not literally a cloud, files stored in the cloud can be both secure and private through security tools and regulatory compliance, though they are not 100% secure. The benefits of cloud-based storage include flexible costs, always-on availability, improved mobility and collaboration. Cloud-based services have changed the way business is conducted by making it easier to share and update files between coworkers from any location.