1. A computer-implemented method for managing storage devices of a provider network, the method comprising: selecting one or more storage devices for which a predicted probability of failure is to be determined; identifying common attributes of the selected storage devices; accessing historical and current data associated with failure of the selected storage devices, the historical and real-time data selected based at least in part on the common attributes; calculating the predicted probability of failure based at least in part on the historical and real-time data associated with the failure of the selected storage devices and a failure prediction model; deactivating the selected storage devices in response to determining that the selected storage devices have a predicted probability of failure that meets one or more criteria, the one or more criteria comprising a probability of failure during a period of time indicated by the criteria; and updating the failure prediction model as updated data associated with the failure of the storage devices becomes available.