Are you talking about performance/availability metrics and tying those metrics into application-aware data policies? I couldn't agree with you more about the need to have tools that set thresholds and automate policies around these thresholds.
More advanced storage provisioning and automation tools "promise" to do that and Storage Resource Management(SRM) could be a foundation technology that is extended to include that. Some data management tools already provide capacity on demand features that allow you to extend volume segments. Automating this and other features will take a lot more time to be fully developed by vendors that I expect could take to mid-decade when all is said and done.
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This was first published in January 2003