Methods, computer program products, and systems are presented. The method computer program products, and systems can include, for instance: examining information of first through Nth storage volumes and based on the examining providing for each storage volume of the first through Nth storage volumes a predicted storage space savings value, the predicted storage space savings value indicating a predicted terabyte volume of storage space savings producible by performance of data compression of data stored on the storage volume; predicting a per terabyte compression cost savings associated with compressing one or more storage volume of the first through Nth storage volumes, and providing a ranking of storage volumes of the first through Nth storage volumes based on the examining and the predicting; and scheduling a compression of storage volumes of the first through Nth storage volumes based on the ranking of storage volumes of the first through Nth storage volumes.