Depends on what the data is.

Because of the replication factor here, I assume that this filesystem is optimised for read throughput rather than capacity. Either way, there is a concept of "nearline" storage. Its a storage tier that is designed to be only really accesed by a backupagent. The general idea is that it stores a snapshot of the main file system every n hours.

After that you have as many snapshots as you can afford.