We considered using the Stretch Database feature a while back, but the service was too costly. This isn't documented by Microsoft, but Stretch Database (I have deduced) actually uses Azure Synapse Analytics (SQL Data Warehouse) to store the data on the backend, and that's why the service is so expensive.
Another option, which we have not tried but from what I've read could work, is to create an archive database (ie: SalesArchive) and mount the data files in Azure blob storage. The tables can be compressed (possibly ColumnStore?). The advantage of this is that the data is seamlessly integrated in SQL Server.
This is possible, but if anyone has actually implemented this, I'd like to hear how well it works in terms of technical snags and usability.
CREATE CREDENTIAL [https://salesarchive.blob.core.windows.net/data]
WITH IDENTITY='SHARED ACCESS SIGNATURE',
SECRET = '<your SAS key>'
CREATE DATABASE SalesArchive
( NAME = salesarhive_dat,
FILENAME = 'https://salesarhive.blob.core.windows.net/data/salesarhive.mdf' )
( NAME = salesarhive_log,
FILENAME = 'https://salesarhive.blob.core.windows.net/data/salesarhive.ldf')
"Do not seek to follow in the footsteps of the wise. Instead, seek what they sought." - Matsuo Basho