While skittish at first, many companies are starting to realize just how beneficial the use of public cloud computing services could be for their organization. A recent forecast from the International Data Corporation found that worldwide spending on public cloud based services will reach $47.4 billion this year, and this number is expected to reach nearly $108 billion by 2017. With a compound annual growth rate of 23.5 percent, companies are clearly taking advantage of what the cloud can do for their organization.

"The first wave of cloud services adoption was focused on improving the efficiency of the IT department," said Frank Gens, senior vice president and chief analyst at IDC. "Over the next several years, the primary driver for cloud adoption will shift from economics to innovation as leading-edge companies invest in cloud services as the foundation for new competitive offerings."

One of the main reasons for the increase in cloud-based services has been business innovation. IDC said this will drive 17 percent of product spending and about half of the growth across all cloud categories.

Author and cloud-based services expert Jason Bloomberg told ZDNet that public is the way to go over private clouds, as there is more elasticity, better utilization rates and more up-to-date technology.