One embodiment provides a method, including: receiving, from an application, information for storage in a storage management system, wherein the storage management system comprises a plurality of storage layers, each storage layer having a different performance and a different cost than the other storage layers; labeling the information with one of a plurality of labels relevant to the application; assigning the information a performance tolerance value based upon the label of the information, wherein the performance tolerance value comprises an estimate of the performance requirement required by the application storing the information; determining a storage layer for storage of the information, wherein the determining comprises identifying one of the plurality of storage layers corresponding to the label of the information and updating metadata of a logical volume corresponding to the information with the performance tolerance value; and sending the information to the determined storage layer.