Data Storage Costs Over Time

Cloud storage costs stem from two main sources.

Data storage costs over time.

Let s start with taking a look at cloud in order to meet budget requirements while maintaining the value of data to the business some storage professionals have considered cloud based storage for storing second copies of. Factoring in scalability technology refresh and operating costs like power administration floor space and support renewal over time can make a big difference in the storage acquired hiles says. For example aws storage services portfolio offers options to help you lower pricing based on how frequently you access data and the performance you need to retrieve it. To optimize your savings choose the right combinations of storage solutions that help you reduce costs while preserving performance security and durability.

A dramatic drop in storage and associated data transfer costs would enable smaller companies to run analysis on large data sets and move more data to the cloud. But what about the specific costs associated with storing your data on tape or in the cloud over a longer period of time. According to one infographic the average cost of storing a single tb of file data is 3 351 a year that cost potentially skyrockets because of supporting technologies. The file sharing services we steadily depend on for on the go access is costing companies an average of 450 per user.

The drive models selected were consumer drives like those we typically use in our data centers. Improvements within the internet such as continuously lowering the cost of storage capacity and improved bandwidth have made it more economical for individuals and businesses to use the cloud for data storage. There is a very strong exponential correlation in space cost ratio r 0 9916. The list price for the 3 tb barracuda drive is 99 99 making the price per gb 0 033.

Over the past 50 years data storage development has blown past barrier after barrier to give us denser higher capacity hard drives and flash storage at ever cheaper costs. Over the last 30 years space per unit cost has doubled roughly every 14 months increasing by an order of magnitude every 48 months. This gives us a benchmark price for raw hdd storage today. The cloud offers essentially an infinite amount of data.

The data on this chart was sourced from the current price of these drives on amazon. Per gb storage or the space taken by the files and network transfer or essentially the cost of downloading the files.