Effective Strategies for Lowering SharePoint Storage Costs

Understanding SharePoint storage costs

SharePoint storage costs can be a significant expense for organizations, especially as the amount of data stored in SharePoint continues to grow. It is important to understand the factors that contribute to these costs in order to effectively manage and reduce them.  Regular audits of your SharePoint environment can help you understand what Sites and Libraries are using the most of the storage allowance.

One factor that affects storage costs is the type of content stored in SharePoint can also impact costs. For example, storing large multimedia files can consume a significant amount of storage space. By gaining a thorough understanding of SharePoint storage costs, organizations can identify areas where they can make improvements and reduce expenses.

Another aspect to consider when analyzing SharePoint storage costs is the storage tiering and pricing model used by the organization. Different storage tiers may have different costs associated with them. By evaluating the storage needs of different types of content and aligning them with the appropriate storage tier, organizations can optimize their storage costs. It is also important to regularly review and assess the storage needs of the organization to ensure that the chosen storage tiering and pricing model remains cost-effective.

Implementing data archiving and retention policies

Implementing data archiving and retention policies can help organizations reduce SharePoint storage costs by efficiently managing the lifecycle of their data. Data archiving involves moving older or less frequently accessed data to a separate storage location, freeing up space in the main SharePoint environment. This can be done through various methods, such as utilizing SharePoint’s built-in archiving features and by leveraging solutuion as ProvisionPoint. It enables administrators to define policies with expiration dates, that will notify Site Owners with extension opportunities.

By archiving data that is no longer actively used but still needs to be retained for compliance or historical purposes, organizations can reduce the storage requirements and costs of their SharePoint environment.

In addition to data archiving, implementing retention policies can also contribute to cost reduction. Retention policies define how long specific types of data should be retained within SharePoint. By automatically deleting or moving data that has exceeded its retention period, organizations can avoid unnecessary storage costs. It is important to carefully define and enforce retention policies to ensure compliance with legal and regulatory requirements while effectively managing storage costs.

Leveraging third-party storage solutions

One effective strategy for reducing SharePoint storage costs is to leverage third-party storage solutions. These solutions often offer advanced features and capabilities that can help optimize storage efficiency and reduce overall costs. For example, some third-party storage solutions provide deduplication and compression technologies, which can significantly reduce the amount of storage space required for SharePoint data. By eliminating redundant data and compressing files, organizations can maximize their storage utilization and minimize expenses.

Additionally, third-party storage solutions may offer more flexible pricing models compared to the native SharePoint storage options. This can allow organizations to choose a pricing plan that aligns with their specific needs and budget. It is important to thoroughly evaluate different third-party storage solutions and choose one that best meets the organization’s requirements for cost reduction, performance, and scalability.

Optimizing file structures and metadata

Optimizing file structures and metadata can play a crucial role in reducing SharePoint storage costs. Proper organization and structuring of files can help eliminate duplicate or unnecessary data, reducing the overall storage requirements. By implementing a logical and efficient file structure, organizations can easily locate and manage their data, preventing the need for additional storage space. It is important to establish clear guidelines and best practices for file organization to ensure consistency and maximize storage efficiency.

Many companies are leveraging a new SharePoint app called CMS365 by KWIZ to streamline their file management. This application makes it effortless to organize various types of information into categories/subcategories, offering a dynamic and user-friendly interface. It also features a powerful search bar for easy data retrieval and serves as an effective tool for knowledge management.

Metadata, or descriptive information about files, can also be a powerful tool for cost reduction. By effectively utilizing metadata, organizations can improve searchability and categorization of content, allowing for more efficient data retrieval and management. This can help reduce the amount of storage space required for storing duplicate or similar files. It is important to define and enforce metadata standards to ensure consistency and accuracy across the SharePoint environment.

Regularly monitoring and analyzing storage usage

Regularly monitoring and analyzing storage usage is essential for identifying opportunities to optimize storage costs. By tracking storage usage patterns and trends, organizations can identify areas of high storage consumption and take appropriate actions to reduce costs. For example, if certain files or folders are rarely accessed, they can be archived or moved to a lower-cost storage tier. Additionally, monitoring storage usage can help organizations identify potential bottlenecks or performance issues that may impact the overall efficiency of SharePoint storage.

Audit is a powerful reporting app that simplifies this process significantly. Integrated within Microsoft Teams, it can generate comprehensive reports across your entire SharePoint environment. With its tenant-wide reports, you can locate the specific workspace using a lot of storage and with workspace storage reports, you can easily identify specific areas using the most data.

Analyzing storage usage data can also provide insights into user behavior and content usage patterns. This information can be used to educate users on best practices for data management and storage optimization. Regular communication and training sessions can help raise awareness among users about the impact of their storage habits on costs and encourage them to adopt more efficient storage practices.