At the highlevel , the main business drives for cloud computing are:-
1- Speed time to production / market by deploying and rollout applications very fast compare to the traditional way of building in-house applications which takes longer.
2- Reduce the IT Administration overhead involved with managing many sub-systems with in premises using many different skills and multiple vendors (High OPEX)
It provides services across channels : mobile, social. It has acquired Eloqua for excellent marketing on Dec 20 2012 as announced: http://www.oracle.com/us/corporate/acquisitions/eloqua/index.html
It also provides excellent value added services: http://www.oracle.com/us/corporate/press/1859201