Is cloud computing cost effective and secure ?

of course it is Cost Effective it reduces CAPEX and OPEX for the Organization.

But Regarding Security it depends if it Reg. The Private Cloud or Public Cloud:

 - For The Private Cloud The Security Concerns Should Be Very Close to same situation as the old DC Designs, and same concepts applies.

 - For The Public Cloud, there is no assurance for the security from your side as a client except for the contract between you the and the Cloud Provider.

Is cloud computing cost effective and secure?

I have read about this point and found that there is a lot of debate regarding this issue especially when it comes to big companies that have to build their own Data-Center any way. Here is some opinion: 

The debate over whether cloud computing is less expensive than traditional on-premise computing essentially comes down to how much more efficiently cloud providers can scale their virtualized infrastructures. 

"When you virtualize your internal environment as a buyer, you do essentially what the cloud computing supplier is trying to achieve. You put multiple applications on the same platform. So some of the benefit that cloud computing offers will already have been taken, and additional overhead comes in."

A McKinsey research study released last spring made essentially the same point, that public clouds were more expensive than internal infrastructures, at least for big companies that had already sunk a lot of money into their infrastructures and optimized them using virtualization. 

David Floyer's Wikibon, like the McKinsey research, concludes that a highly virtualized internal infrastructure will be more cost effective for big companies than the public cloud, at least for certain types of applications.

Ref. 

http://www.itbusinessedge.com/cm/blogs/all/how-cost-effective-is-the-cloud-it-depends/?cs=41092

well, your questions is two parts:

1) Cost (economics)

it is highly dependent on which segment the organization is (industry) as well as if it is a new business openining. also, how big is the organization's IT infrastructure, is there any in-house application development? what is their BUDGET model and frequency.

in all situations, Private cloud is targetted towards capex and opex reduction, IT agility and long term cost utilization. Public cloud is targetted towards rapid time to market, business competetion and availability and in all cases Cloud is the answer to cost saving but in different aspects based on the MUST do initial analysis focusing on the organization needs and objectives.

when it comes to securuity, deffierent vendors offer deffierent levels of security measures and guarantees. and yet again it depends on what workloads or business apps are hosted on the cloud.

actual data is the buzz word, where is it being saved? on or off premisis how confedential is it? encryption needed? i believe all vendors can offer variant options and I can conclude that yes cloud is secure if yet again a must do initial analysis is perfectly conducted.

Basm Allah Alrahman Alrahim

IF a hacker want to steal , which one he will try to steal the bank or you (i.e your credit card) , you will say what is the connection between my question and that , I will say : IF a hacker want to steal information from your company Inside server or Outside cloud server which one he will try to steal ? look to this article Cloud Part1

what do you think about a cloud served by amazon Like AWS or cloud server served by IBM or server served by AT&T Or Verizon can be Hacked and What they will cost of effective and security 

Thank you for this question that help us to search and learn

Cloud Computing is Cot Effective & Secure Solution

Cloud Computing has already helped numerous industries – from the travel industry to government contractors and every industry in between – increase productivity and save money.

Coud Computing is cost effective & Secure as  on-premise costs include hardware, software, support, design builds, downtime, employees, and much more. These costs quickly add up. Cloud Computing costs, meanwhile, are much more manageable. Using a price per user per month model, Cloud Computing delivers numerous benefits for a fraction of the cost of an on-premise solution.

Save Money with Cloud Computing

• Servers: With Cloud Computing, the need for and cost associated with on-premise servers vanish.
• Computers: The Cloud will help you extend the life of your computers, saving your company money in the long run.
• Employees: Because everything is hosted online, via the Cloud, your company will not need to hire an in-house IT staff.
• Maintenance and Downtime: Your Cloud provider will proactively monitor, maintain, and upgrade your hosted programs, minimizing downtime and ensuring your applications are available when you need them. And with less downtime, you’ll have increased productivity, higher revenue, and greater opportunities.

Additional Benefits of Cloud Computing

• Remote Access: Because applications are hosted in the cloud, employees can access information from anywhere, as long as they have an Internet connection.
• Scalability: Unlike an on-premise solution, the Cloud offers an extremely scalable platform that will grow alongside your business. Cloud Computing solutions allow you to easily adapt.
• Security: Many Cloud providers, like Cetrom, keep your critical data safe through secure and encrypted solutions, firewalls, backup recovery, and redundancy.