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What are the benefits to storage networking?

I’ve heard that IT departments can achieve a lower TCO with storage networking, but what are the other benefits to this?
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Cliff Schaut
HP Storage & Blade Architect, AF Services - HP
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NAS isn't just about sharing files any more-it's about sharing information. With the included Microsoft iSCSI Software Target, you can host server storage for applications like Microsoft Exchange, Microsoft SQL, Microsoft SharePoint, or Oracle, and you can drive additional consolidation by hosting storage for Microsoft Hyper-V, VMWare, or Xen deployments. Consolidate islands of direct-attached storage to one easy-to-use Windows-powered shared storage platform. Since it's versatile unified storage, it can be a file server (or disk-based backup / replication target), an iSCSI target for application/virtual environment storage, or both.

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