Even something simple such as webmail can be considered to hold our information "in the cloud". That is to say that the data isn't held locally, it's stored on that magical cloud thing called the internet.
It's basically just a buzzword for storing stuff remotely. This list summarises why it's used.
FTP backup => Storing files in the cloud
SSHing into a remote PC to execute code => Cloud computing
Webmail => Cloud mail
SSHing into a remote PC to execute code that predicts the weather => Cloud computing via Cloud computing
(I tried an html table but it didn't render...)
Sounds cooler doesn't it!