In most cases, data storage is understood as the “hardware” used to retain information, and usually, the choice is between the classic on-premise approach and cloud solutions. Since cloud storage is relatively inexpensive compared to computing power, it's often overlooked. That is, until the storage bill exceeds the budget several times over. To avoid overspending on something as seemingly simple as data storage, a lot of factors must be considered:
- How to organize the catalog so that unnecessary data isn’t stored
- What storage format is the most efficient
- How to implement versioning for stored data
- How to address data security and access control
- How to comply with regulations concerning data collection, storage, and intended use.
If you are uncontrollably storing things like large raw datasets that no one is currently using, multiple redundant backups, old model outputs, interim processing files, or uncompressed logs, there’s a high chance you’re incurring thousands of dollars in unnecessary monthly expenses. Efficiently managing formats (like using Parquet instead of CSV), setting up lifecycle policies, and tagging data based on usage can significantly reduce storage costs without compromising accessibility or availability.