There's nothing wrong with having your data local and secure. Having your data in the cloud has its advantages in the form of uptime, accessibility, and cost. These three reasons along with the most important one, scalability, make it the choice for any business that wants to compete in the world market. The cloud eliminates so many IT problems associated with a thriving business that has vast amounts of information and traffic. Joe Masters Emison's answer says it all.
Frustrated with moving everything to the cloud? Not I. But that's only because I understand the benefits.
Keeping everything local ties you to a geographical location, like an office. Your data is only accessible in that location. Only paper is worse -it can tie you to a desk or a post-it note you stuck somewhere. Worst of all you can't search a stack of papers for a word or phrase instantly. It takes a while.
I associate the move to the cloud with the move from paper to computer. Back when that happened, it was quite the same as the move to the cloud. A lot of people were frustrated. All of a companies data was entered into a database on a server and there were terminals you could access the data from in several offices throuought the business.
It's the exact same setup today, but on a much larger scale. The server is located in several datacenters all over the world and terminals exist on every computer with a web browser. 🙂


