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The key considerations for selecting a cloud migration strategy include business requirements and objectives, application dependencies and architecture, data sensitivity and compliance requirements, migration complexity and risk tolerance, cost and resource constraints, and organizational readiness and capabilities. Organizations must evaluate different migration approaches, such as lift-and-shift, re-platforming, refactoring, and re-architecting, and choose the most suitable strategy based on their specific needs and constraints to achieve successful and cost-effective cloud migration outcomes.