A system and computer-implemented method for automatically balancing loads across two or more storage pools within a storage array, particularly with regard to storage capacity and/or performance utilization, in accordance with a user-instituted policy. A policy is activated and input criteria are specified. A current refresh date/time stamp is determined, and whether an active job is occurring is determined. A current operational (e.g., capacity or performance) percentage for each of storage pool is determined, pools with higher and pools with lower operational percentages are identified, and data is moved from the former to the latter to better balance the pools. If the pools are already closely balanced, no action is performed. The process is repeated at an interval specified in the set of input criteria. If multiple bases for balancing are selected, the process may alternate between them.