A cloud migration strategy is a plan which any organization develops to move its systems and applications from on-premises architecture to the cloud.
Not all applications and systems benefit from running on the cloud; that’s why you must indorse the most efficient way to work on it and migrate applications. Therefore, a systematic, documented strategy is essential.
Any strategy needs to start from some barefoot, and then it builds on it. Similarly, the vital first step to creating a migration strategy is getting to know what you have? What are the collections of applications, systems, etc.? Once you have documented existing applications, you need to refer to the most common migration strategies. Gartner is calling 5R; some vendors mentioned as 6Rs or 7Rs. (These strategies are: refactor, replatform, repurchase, rehost, relocate, retain, and retire)
Your organization will fall in these options, and you need to choose based on the workload discovery/assessment.
The decision must consider an organization's requirements, evaluation criteria, and architecture principles.