On-premise data storage requires companies to bear significant costs and responsibilities including yearly server maintenance, expanding infrastructure to meet growing data needs, securing against malware threats, complying with regulations, and ensuring data availability even during natural disasters through frequent backups. In contrast, cloud storage shifts these costs and responsibilities to cloud providers, who handle maintenance, automatic scaling, security updates, geo-redundant storage across multiple data centers for high availability, compliance with regulations, and data recovery in case of disasters.