Cloud migration involves moving data, applications, and workloads from on-premise infrastructure to cloud services delivered over the internet. There are three major cloud models - SaaS, PaaS, and IaaS - that each provide different levels of control and flexibility. Successful cloud migration requires identifying stakeholders, assessing costs and benefits, addressing legal and security risks, and choosing an appropriate migration approach like rehosting or replatforming applications. Careful planning is needed to ensure a smooth transition to the cloud.