Optimizing storage-related costs with compression in a multi-tiered storage device

A non-transitory computer-readable medium storing executable instructions, which when executed by a processing device, cause the processing device to perform operations comprising:

• assigning, to a data partition of a dataset, a priority based on access patterns of the data partition;
• accessing compression data describing results of compressing a data sample associated with the data partition using multiple compression schemes;
• determining, based both on the priority of the data partition and on the compression data, a storage tier for storing the data partition in a multi-tiered storage device;
• determining, based both on the priority of the data partition and on the compression data, a compression scheme for compressing the data partition for storage in the multi-tiered storage device;
• and
• compressing the data partition using the compression scheme to produce a compressed data partition and storing the compressed data partition in the storage tier.

A system comprising:

• a memory component storing a dataset comprising data partitions;
• a data partitioner module comprising program code for assigning, to a data partition of the data partitions, a priority based on access patterns of the data partition;
• an optimization engine comprising program code for:
• accessing compression data describing results of compressing a data sample associated with the data partition using multiple compression schemes;
• determining, based both on the priority of the data partition and on the compression data, a storage tier for storing the data partition in a multi-tiered storage device;
• and
• determining, based both on the priority of the data partition and on the compression data, a compression scheme for compressing the data partition for storage in the multi-tiered storage device;
• a storage manager module comprising program code for compressing the data partition using the compression scheme to produce a compressed data partition and storing the compressed data partition in the storage tier;
• and
• a processing device coupled to the memory component and configured to execute the program code of the data partitioner module, the optimization engine, and the storage manager module.