A JBOD (Just a Bunch of Disks) takes multiple drives and simply treats them as if they were one large (additive) device. You can use drives of different sizes and speeds. The overall throughput is determined by the slowest drive in the set.
RAIDs (Redundant Array of Inexpensive [or Independent] Disks)
A "Striped" RAID consists of mutliple drives or multiple volumes on multiple drives that are of equal size. If you combine two drives of unequal size the RAID's size will be determined by the smallest drive. For example, if you combine a 500 GB drive with a 250 GB drive in a two-drive striped RAID the total size of the RAID will be 500 GBs (250 GBs of the larger drive combined with the smaller drive.) A striped RAID actually writes a fraction of the data to each drive. This results in a multiple effect on throughput. A four drive striped RAID may actually be close to four times faster than the slowest drive in the set.
Striped RAIDs provide no data redundancy. If one of the drives in the RAID becomes damaged it's possible to lose all the data on the RAID. Hence, backup is essential to provide data redundancy.
A "Mirrored" RAID combines two drives or volumes of equal size. Data written to one drive is instantaneously "mirrored" on the second drive. This type of RAID is slower than a single drive (data must be written twice) but provides data redundancy. Of course any data corruption on one of the drives will be instantly mirrored on the other drive.
In an enterprise or large server setting a striped RAID may be configured to provide large amounts of fast access storage. A second striped RAID of equal configuration would then be used to act as a mirror providing data redundancy.
For most small home and business uses there's little need for RAIDs unless you have unusually large data storage requirements. RAIDs should not be used as startup volumes.
For more on the topic:
http://en.wikipedia.org/wiki/Redundantarray_of_independentdisks.
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