It's similar to S3 for AWS. The ability to store everything inside Blob or Object storage and use it for archiving data is beneficial. For example, you can transform data from relational databases, flatten it, and store it in Object storage to save space within the databases. If I want to save data and do not require legacy access, it's a good solution, for instance, to migrate archives from databases to Object storage. This can also be used for business intelligence purposes. Having a storage solution for data makes it the best place to store it. Azure has its own solution for StatsQ Web Apps.
