Cost considerations

As the size of data grows, there are many factors to consider to manage costs effectively. Some of the costs associated with data are direct, while others are indirect. A clear and well-defined data strategy plays a central role in managing these costs and maximizing the value of data.

There are multiple points of view to consider when looking at the cost:

• Data storage
• Data governance

Data storage

Not at all data is created equal. Some types of data have more value than the others. The value of data might also be sensitive to its age and might start to decrease as the data ages. At the same time, some data is accessed more frequently than others. All of these factors, and many more, determine how the...