1. A method for allocating storage in a data storage system, comprising: providing a set of storage profiles, each storage profile comprising a set of parameters each with a value defined for the data storage system and for an application using the data storage system; receiving a selection of one of the storage profiles; applying the selected one of the storage profiles to the data storage system to allocate a portion of the data storage system to a first storage pool defined by the set of parameters associated with the selected one of the storage profiles; providing a subset of the set of storage profiles that are selected based on the applying of the selected one of the storage profiles to the data storage system, wherein the subset of the set of storage profiles are compatible with the selected one of the storage profiles; receiving a selection of a second one of the storage profiles; and applying the selected second one of the storage profiles to the data storage system to allocate a second portion of the data storage system to a second storage pool defined by the set of parameters associated with the selected second one of the storage profiles, wherein the first storage pool and the second storage pool operate simultaneously.