Previously, we’ve gone over the many benefits of cloud storage and if you’re currently considering moving to the cloud, you’re likely researching the costs associated with it. But like everything else in life, there are ways to save money on cloud storage by following best practices. Before we get into data classification however, make sure to fill out this form to get free quotes on cloud storage, with potential savings of up to 70% — you’re here to learn how to save money after all aren’t you?
Data classification is the process of organizing data into categories so it’s easy to identify the different data types you have stored and determine where each data type is located. The goal of data classification is to make it easier to locate and retrieve data, but did you know it can also save you money?
One strategy for saving on cloud storage costs is to take advantage of storage tiering, like Amazon S3 Intelligent-Tiering. According to Amazon, S3 Intelligent-Tiering “is the only cloud storage class that delivers automatic storage cost savings when data access patterns change, without performance impact or operational overhead.” In other words, data will automatically be moved to the most cost-effective tier based on access patterns.
By undergoing data classification, you can identify the data that is accessed infrequently and move it dynamically to the correct tier to save on cloud storage costs. You can also use data classification to identify and remove redundant or stale data that doesn’t need to be stored in the cloud. By knowing what data needs to be accessed and how frequently, you can move it accordingly to different tiers with lower costs.
To give you an idea of the savings, Amazon’s Infrequent Access tier saves up to 40% on storage costs, while the Archive Instant Access tier saves up to 68%. The Frequent, Infrequent, and Archive Instant Access tiers all have the same low-latency and high-throughput performance of S3 Standard, according to Amazon.
Ultimately, data classification should give you and your business a clear picture of your data, where it’s stored, and how often it’s accessed. Not only will your data be easier to find, it should also allow your business to determine the relative risk associated with the types of data and whether it should be handled or stored in a different type of cloud.