RAID 5 is not a good storage solution for Splunk, as it is slow, and Splunk can only work as fast as the storage volume can, so if you're interested in fast performance, don't go down that route.
Another consideration is 100GB of data doesn't necessarily equate to 100GB of disk-space when indexed. The compression ratio depends on the data, but you could find that 100GB equates to 50GB of space within $SPLUNK_DB . The only way to know for sure, is to run some tests with known data volumes.
Also remember that cheap NFS storage is perfectly acceptable for older data you don't search very often
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