Is cloud computing an IT initiative or a business initiative in your organization?

A recent study showed that speed and agility was the primary factor for more than 50% or organizations adopting cloud computing, with cost-savings the number one reason for about 30%. The study did not indicate whether or not the speed, agility, and cost-savings were IT-related or business-related. (Don't get me started on why there's a distinction between the two - I've written an entire book on the ridiculousness of the "us and them" divide between IT and the business. I'm simply acquiescing to the reality.) I’m interested in how many organizations have drawn a direct-correlation between cloud computing and business value – to the extent that it has fostered business sponsorship and participation of cloud computing initiatives. I know there are many businesses opting for the cloud as an alternative to their own IT organizations or as means to completely circumventing them, but that doesn’t necessarily indicate the business has identified business innovation possibilities or untapped business value opporutnity - the topics I am hoping to investigate and understand.