Holographic data storage is a mass storage technology that uses holograms to store information in a much smaller space than current technologies. The technology works by splitting a laser beam into a signal beam and reference beam. When the beams intersect in a light-sensitive medium, they record a hologram. Holographic storage has advantages over technologies like hard drives and DVDs by allowing much higher data density and faster read/write speeds. However, it also has disadvantages like high development costs and uncertainty if it will become the standard over other improving technologies.