1. A method for generating storage policy for a storage system, the method comprising: receiving a target function applicable to a storage system having one or more data storage mediums, wherein the target function represents values for storage parameters associated with productivity or loss tolerance in the storage system; implementing one or more simulation rules according to the received target function; generating one or more storage operation requests to access data on said one or more data storage mediums based on said one or more simulation rules; submitting said one or more storage operation requests to the storage system for processing; analyzing simulation results obtained for the storage system, in response to the storage system processing said one or more storage operation requests; and generating one or more storage policies, by a machine learning entity, in response to analyzing the simulation results.