Described herein is a system and method for detecting underutilized capacity within a storage system environment. The technique comprises collecting performance data of various storage objects within a storage system environment for various performance measures at designated time intervals. The collected performance data may be formatted and stored to a database. One or more parameters may be received specifying at least one performance measure, at least one threshold value, and/or at least one time period. The performance data for target storage objects may be analyzed according to the received parameters to determine any underutilized storage objects. A report may be generated according to the parameters listing the storage objects and address locations of any underutilized storage objects. The report may comprise various information corresponding to the underutilized storage object, such as the business units, tiers, data centers, and levels of service they are associated with.