The Cool tier is optimized for storing data that is infrequently accessed and stored for at least 30 days, such as backup data or older media content. This tier provides a cost-effective way to store data that is not accessed frequently but requires fast access when needed. The Hot tier is suitable for data accessed frequently, and the Archive tier is used for data that can tolerate several hours of retrieval latency and is stored for at least 180 days. Premium Performance tier is an incorrect term and does not represent any of the Azure Storage tiers.