As I understand from this article about homomorphic encryption, it mainly aims to enhance the security of cloud computing. We should be able to encrypt data and send it to the cloud. After it is send, we should be able to make computation on the encrypted data and the result of this computation is an encrypted data too. If we decrypt the result of our computation, then we should get back the plain text version of the result.
The question is, why we assume it enhances the cloud computing? We could just encrypt data, send it to cloud. When we need to make computation, query these data to our computers and decrypt it, make computation, then send it back to the cloud if needed.