Some folks mentioned about lowering costs; I may misunderstood that context but has there been any math done by any entity on how much of a cost-saving it would be for organizations that chooses to switch to a blockchain data storage solution?
It depends on the organization, what they do with their data, and what value they place on it - so the answer varies. We've done some back of the napkin calculations this morning and at today's prices it would cost approx $1,000 to store 1MB on the Bitcoin blockchain. That's a LOT, but depending on what you want do with your data, it could be priceless. One benefit is that once that data has been encoded its available for the life of the chain at no extra cost, eliminating hosting overhead. You also get the added benefits of increased transparency, automated auditing, reduction in human error, etc.