A hierarchical storage data management system includes application servers, a metadata server interconnected with the application servers through a local area network, storage devices interconnected through data flow paths, and a storage network connecting the storage devices to the application servers and to the metadata server. The metadata server including a metadata management element, a data value management unit, and a hierarchical storage management element calculates a data value for each of stores data objects in the system, assigns a storage cost value for each of storage areas in the system, normalizes calculated data values and assigned storage costs to an identical value range, compares normalized data values with normalized storage costs thereby determining whether to relocate the data objects to different storage areas, and relocates data objects to storage areas with storage cost values identical with data values of the data objects.