1. In a switch device coupled between a client and a storage network to process transaction requests submitted by the client, a method for monitoring transactions related to objects in a storage network, comprising: receiving a transaction request concerning an object in the storage network; determining that the transaction request is directed to a file system on the storage monitor that is being monitored and that the transaction is a type of transaction request being monitored; logging the transaction according to the type of transaction; periodically processing a plurality of logged transactions to generate accumulation data associated with an object, the accumulation data describing a use of an object; and applying a policy to the objects based on the accumulation data.