3-2-1 Rule: redundancy with protection (large RAID, medium RAID, and single backups)
…three copies at all times, to protect against disk/media failures: hard drives and DVDs fail differently
…two of those on-site in two different formats, and one off-site
…one (and only one) of those two on-site copies is a work copy
Clouds are exclusively for archiving.
Blu-Ray for local redundancy archiving.
Edit software recommendations for workflow:
Adobe Premiere for handling any/mixed video formats (no transcoding worries) as well as graphics integration, at a low monthly cost.
Final Cut X for inexpensive entry cost for a perpetual license ($300 versus Avid‘s $1,300; Avid also has a low monthly option) and relative ease of use (optimized with MBP laptop and Mavericks OS).
Anything else would be a matter of personal work style/comfort (my own being Sony Vegas ($600), a combination video and audio NLE workspace that handles each very comfortably; coming from teaching ProTools, it is also the easiest software I’ve ever used–thanks Hans tB).
Adobe is NVIDIA-centric, versus Apple which has moved to AMD.
Boxx Technologies is one optimized platform for Adobe (over Apple’s). This does not constitute an exclusive endorsement.