There's some confusion in the marketplace over what's Edge-Computing, Cloud-Computing, and Hybrid-Cloud. We hope to provide some clarity and help the reader to better grasp how systems may be architected.
There's not a one size fits all model and most likely the best scenario really depends upon the application or use-case. Some applications and services may need very low latency processing in order to make quick determinations. In this scenario, edge-computing may be a benefit. Or, the amount of processing may be very high, and in this scenario, an owned private asset may provide better economics. Think about a camera which is controlling traffic lights based on traffic patterns or pedestrians at a crosswalk. It would probably better to have local processing for this, and for other applications with automation.
Of course, many applications and services perform adequately within a managed cloud service provider environment which could reduce the need to maintain and patch systems.
An example of this may be Accounting Software or other enterprise applications that may not be as time-sensitive (latency).
In addition, there may be applications well suited for local processing with edge-computing, but back-up into a managed cloud. This would be a hybrid-cloud model.
However, the models are distinct, and there are cloud-computing solutions being marketed as edge-computing. Edge-computing is a "hot" technical buzzword at the moment and it's not untypical for tech vendors to utilize buzzwords in order to be a "me too".
Edge-computing is processing data on the last mile network edge. Cloud-computing is processing data in the cloud.