One best practice is to choose the appropriate data storage service based on your needs. For example, if you have structured data, using Azure SQL Database could be a good choice. If you have unstructured data, Azure Blob Storage might be more suitable. Another best practice is to leverage caching mechanisms like Azure Redis Cache or Azure CDN to improve read performance. Additionally, using data compression and encryption techniques can help optimize storage efficiency and security.

An important best practice is to regularly monitor and analyze your data usage patterns. By doing so, you can identify any inefficiencies or bottlenecks and take appropriate actions to optimize storage. It's also recommended to use Azure Monitor to set up alerts and track storage metrics, such as storage capacity, throughput, and latency. Lastly, implementing data lifecycle management strategies, like tiering or archiving, can help reduce costs by moving less frequently accessed data to lower-cost storage tiers.