How to handle backups of Essbase data for longer duration (Data Lake ??)

We have few applications in Essbase which needs to be archived. Need an strategy to store the all level data for future use purpose.

the plan is to take a backup of all data from Essbase and move it to a storage or App with minimal maintenance cost. Retrieve the data whenever required in future.

As the volume is more since we have historical data for the past five years, not sure what are all the options we have..

Please let me know if anyone have faced similar situation in your project and inputs