cloud in IT phrases, computer science homework help

"It's in the cloud!" has to be one of the most overused IT phrases in the last few years. But what does it actually mean?Define what exactly the cloud is and what can be done "in the cloud". Also research and define the following two related topics:Software as a Service (SAAS)Application Service Provider (ASP)NOTE: The answer should be between 300 to 400 words and should not contain plaigrasm.