Embodiments of the disclosure relate to archiving data in a storage system. An exemplary embodiment comprises making a flash copy of data in a source volume, compressing data in the flash copy wherein each track of data is compressed into a set of data pages, and storing the compressed data pages in a target volume. Data extents for the target volume may be allocated from a pool of compressed data extents. After each stride worth of data is compressed and stored in the target volume, data may be destaged to avoid destage penalties. Data from the target volume may be decompressed from a flash copy of the target volume in a reverse process to restore each data track, when the archived data is needed. Data may be compressed and uncompressed using a Lempel-Ziv-Welch process.