Amazon Web Services recently introduced Glacier, a data archival service that is priced to store data for one penny per gigabyte per month. For organizations with at least 10 TBs of data, that means about $1,200 a month.
Of course, it will be some time before large insurance operations would entrust valuable and sensitive data to a cheap cloud offering such as this. Still, Amazon is clearly disrupting the business model for storage, and that's good news for everybody—especially in the era of big data.
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