If its not too late to add more, I will.
You may find you need to do your own load tests to get the most accurate information about compression and total storage requirements Then calculate accurately how many iterations you will keep on Tier1 storage, and how many on tier two. And don't neglect indexes and syslog.
I did not trust IBM's initial estimates for migrating indexes from version 2.1 to version 8.4 on zOS, and I did my own estimates on my largest applications. I think my growth was not double as predicted by IBM, but a factor a lot higher, five or ten perhaps. Calculating the entire migration, we did not have space to complete it. I triple checked my numbers, and we ordered more storage in order to do the migration, which took about 18 MONTHS. My estimates from samples were right on the money.
Then came Customer Service moving from AFP bills to PDFs on version 8.4. Compression of PDFs is NOT good in 8.4, and we saw storage requirements go up by a factor of about sixty. Again, we had to order more storage before we could go live with the new bills. Cutting back to 4 months on tier1 from 8 months, and required to use partitioned table spaces, we use 94% to 95% of the 1 terabyte storage purchased for this. We are migrating the bills to AIX with CMOD 8.5, where PDF compression is improved by 90% to 95%. So 4 months data will shrink to between 50 and 100 Gigabytes. To load PDFs, we currently use 8 virtual Windows servers to load 500 plus files a day in about 2 hours at 2:00 AM. The file count is based on the maximum file size limitations, since our PDFs expanded on CMOD 8.4.
What was fun about this, is that now when I make an estimate, its taken almost as gospel from day one. I go back to my numbers and no one can argue about excessive estimates. And I'm considered the major space hog, with the biggest databases we have.