Google Cloud announced the general availability of Archive, a long-term data retention service intended as an alternative to on-premises tape backup.
Google pitches it as cold storage, meaning it is for data which is accessed less than once a year and has been stored for many years. Cold storage data is usually consigned to tape backup, which remains a surprisingly successful market despite repeated predictions of its demise.
Of course, Google's competition has their own products. Amazon Web Services has Glacier, Microsoft has Cool Blob Storage, and IBM has Cloud Storage. Google also offers its own Coldline and Nearline cloud storage offerings; Coldline is designed for data a business expects to touch less than once a quarter, while Nearline is aimed at data that requires access less than once a month.
Thanks to Andy Patrizio (see source)