Not need to mention how fast the data is growing in recent years, and increasingly, this data is becoming more valuable than ever before as businesses rely on the insights that data can provide.
Storing, accessing and analyzing this data is only as good as how quickly you can do it. And where high-performance is key, most of situation, tape won't be the option for this.

Yes, there is a  common misperception that backing up to tape is slower than disk, however, using LTO7 technology, tape delivers some of the best performance possible when comparing raw speed.

In fact, it’s faster than disk.
Tape technology doesn’t have the same complicated backup constraints that slow down transfer rates on disk. With tape, transfer is far more straightforward and simple.
And with LTO-7 tape technology, you can enjoy read/write speeds that approach 750 MB/sec compressed. When you compare native data rates, that’s 300 MB/sec, which is faster than the typical 7,200 RPM hard drive (130 MB/sec).

On my testbed, using 2GB file, after hundreds of testing, I observed >250MB/sec writing speed. Including overhead, device open, close, etc..

Of course, tape management system is another key point when deciding to use tape, which can help to minimum tape operation overhead(loading, unloading, seek etc..)

Ref:

http://www.lto.org/wp-content/uploads/2014/06/LTO16_0026_ValueProp_Performance_01_2016_FINAL.pdf