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Definition - What does SkyDrive mean?

SkyDrive is a data storage and syncing application provided by Microsoft Corporation under its Windows Essentials 2012 series of applications for Windows 8. SkyDrive enables Microsoft account holders to store files, images and other data online and offline - and sync and access that data from both computers and mobile devices.

SkyDrive was previously known as Windows Live SkyDrive and Windows Live Folders. In 2014, Microsoft rebranded SkyDrive as OneDrive, along with adding some new capabilities.

Techopedia explains SkyDrive

SkyDrive is primarily a storage, collaboration and syncing application. It's bundled and freely available with the Windows Essentials 2012 application suite. SkyDrive supports all major computer and mobile operating systems such as Windows, MAC, iOS and Android. It creates a device collaboration cloud between all the configured/installed devices that automatically maps and synchronizes data, files and any changes made to those files across all devices. The data stored in SkyDrive can be kept private, shared with limited users or be published publicly. SkyDrive offers a minimum of 7 GB of storage space, which can be extended further through paid subscription. SkyDrive is integrated by default with all Windows Live Services, Office Web Apps, MS Office and APIs for third-party application integration. The files or data created through these online and desktop applications can be stored, synchronized and shared via SkyDrive.
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