Cloudbursting refers to the dynamic deployment of applications to public cloud resources to address spikes in demand. It allows organizations to leverage cloud computing in a hybrid model to maintain service level agreements during surges. Effective cloudbursting requires applications to already be deployed in the cloud, load balancers to direct traffic, and mechanisms to determine when on-premise infrastructure is nearing capacity to trigger bursting. It provides benefits like reduced costs, increased reliability, and ability to scale rapidly while concerns include security, availability, and data duplication.