Cloud computing is an operational model built on top of virtualization. This operational models depends on:
1) Standardization of configurations
2) Clear offerings for environments
3) Clear resource and workload definitions
4) A self-service configuration system for customers
5) Lifecycle management by customers (what's on, what needs to go off, change, etc)
6) Basic resource accounting and charge back
7) Service level reporting.
When you put it all together, you have defined a service catalog. So if you are starting with virtualization on your way to offer an internal or private cloud... remember: No catalog, No cloud.
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