What is the most effective method of managing "consumption" of storage such as reducing the growth rate of non-value...
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added data or eliminating data that is obsolete or non-value added?
There are some simple things you can do to evaluate and prioritize the data you are managing:
1. Make sure you have a tool in place that assists you with capacity planning, especially Storage Resource Management(SRM). SRM will give you a snapshot of what you have, who owns the data and relative trend analysis (depending on the vendor) around how fast this data is rowing.
2. Determine the data quality of service -- that is what's mission critical, operational and data that can be archived (or deleted).
3. Set polices for each data class that might even include quotas, targeting the data that has "non-value" with stringent user/department quotas. Quotas are at many times controversial so you need executive backing and buy-in to establish and enforce these policies.
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