Hierarchical storage management (HSM), also known as Tiered storage, is a data storage and Data management technique that automatically moves data between high-cost and low-cost storage media. HSM systems exist because high-speed storage devices, such as solid state drive arrays, are more expensive (per byte stored) than slower devices, such as hard disk drives, optical discs and magnetic tape drives. While it would be ideal to have all data available on high-speed devices all the time, this is prohibitively expensive for many organizations. Instead, HSM systems store the bulk of the enterprise's data on slower devices, and then copy data to faster disk drives when needed. The HSM system monitors the way data is used and makes best guesses as to which data can safely be moved to slower devices and which data should stay on the fast devices.

HSM may also be used where more robust storage is available for long-term archiving, but this is slow to access. This may be as simple as an off-site backup, for protection against a building fire.

HSM is a long-established concept, dating back to the beginnings of commercial data processing. The techniques used though have changed significantly as new technology becomes available, for both storage and for long-distance communication of large data sets. The scale of measures such as 'size' and 'access time' have changed dramatically. Despite this, many of the underlying concepts keep returning to favour years later, although at much larger or faster scales.