Last year, we released Blob-Level Tiering which allows you to transition blobs between the Hot, Cool, and Archive tiers without moving data between accounts. Both Blob-Level Tiering and Archive Storage help you optimize storage performance and cost. You asked us to make it easier to manage and automate, so we did. Today we are excited to announce the public preview of Blob Storage lifecycle management so that you can automate blob tiering and retention with lifecycle management policies.
For more detail, please see the original post at Microsoft Azure Blog.