Time-series data can be compressed to reduce the amount of storage required, and increase the speed of some queries. This is a cornerstone feature of Timescale. When new data is added to your database, it is in the form of uncompressed rows. Timescale uses a built-in job scheduler to convert this data to the form of compressed columns. This occurs across chunks of Timescale hypertables.
Timescale charges based on how much storage you use, so you don't need to choose and pay for a fixed storage size when you create a new service. This means that you also don't need to worry about scaling your disk size as your data grows. You are only charged for the storage space that you actually use. Make sure you use compression, a data retention policy, and data tiering, to help you manage costs.
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