I've been working with web applications since the 90s, and over the years I've heard many buzzwords which mean "Host your application on system which is run by someone else". The latest buzzword is 'Cloud'.
What is the difference between "Cloud" applications, SaaS (Software as a service) and ASP (Application Service Providers)? Isn't there alot of overlap between these definitions? Sometimes I'm speaking to an executive who keeps saying "Cloud" when I would use the term ASP. I've worked for an organization who did ASP, another who did SaaS, and now another organization who says "Cloud". But they all seem very similar to me.
What distinguishes Cloud vs Saas vs ASP? Are there any official definitions for each of these terms?