Cloud is now the strategic anchor for enterprise IT — even though many workloads remain on-premises. While cloud scale, innovation, and time to market are major draws, security, sovereignty, and AI-related regulations often keep workloads in private cloud or data centers. But cloud adoption is just the beginning. With the rise of AI-native platforms and rapid market shifts, no two cloud strategies look alike. Each must be tailored to the organization’s goals, constraints, and capabilities — and revisited frequently to stay aligned. This report outlines the decision factors and market dynamics that will help you shape and evolve a cloud strategy that’s right for your organization.