ASM

Automatic Storage Management (ASM) is an Oracle database feature that provides DBAs with a simple storage management interface that is consistent across all server and storage platforms.

ASM is an integrated volume manager for storing Oracle database files – including datafiles, redo logs, backups, controlfiles and spfiles. ASM allows administrators to add and remove disks while the database is on-line and available to users. Data is automatically striped across all disks in a disk group, and is optionally mirrored.

ASM is shipped as part of the database server software (Enterprise and Standard editions) and does not cost extra money to run.

Ref.
http://www.orafaq.com/wiki/Automatic_Storage_Management
http://www.orafaq.com/wiki/ASM

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