A company is using a tape backup solution to store its key application data offsite. The daily data volume is around 50 TB. The company needs to retain the back...

A company is using a tape backup solution to store its key application data offsite. The daily data volume is around 50 TB. The company needs to retain the backups for 7 years for regulatory purposes. The backups are rarely accessed, and a week's notice is typically given if a backup needs to be restored.
The company is now considering a cloud-based option to reduce the storage costs and operational burden of managing tapes. The company also wants to make sure that the transition from tape backups to the cloud minimizes disruptions.
Which storage solution is MOST cost-effective?