Strip away the marketing and every business system stores its data in one of two kinds of place. The first is a machine you own and mind: the tower under the office desk, the laptop in the manager's bag, the old server humming in a cupboard. It is yours, it is in the building, and everything that happens to that building happens to it: the power cuts, the heat, the dust, the theft, the day nobody remembered to back it up.
The second is a managed server, a professionally run computer in a purpose-built data centre, looked after by a team whose only job is keeping it powered, cooled, secured and online. You never see it and never have to think about it. This is what people mean, underneath all the vagueness, when they say "the cloud."
Cloud-hosted business software lives firmly in the second place: your records sit on managed infrastructure, not on a machine in your office. The grower gets a system reached through a browser; the hard, unglamorous work of running the computer behind it is simply someone else's problem now.