1. A method for managing storage of data in a data memory and storage system environment comprising at least one host computing device and at least one storage array, comprising steps of: maintaining a memory and storage tier architecture across the data memory and storage system environment comprising one or more tiers resident on the host computing device and one or more tiers resident on the storage array; and enabling a user to at least one of: (i) specify on which of the one or more tiers resident on the host computing device and the one or more tiers resident on the storage array to store data associated with the execution of an application program; and (ii) specify a level of service by which the system automatically manages which of the one or more tiers resident on the host computing device and the one or more tiers resident on the storage array to store data associated with the execution of the application program.