I found the recommendation of a 1:24 ratio of RAM to storage on another thread. Is that still what is recommended? I couldn't find much in official documentation about how much disk space you should have per node.
What happens if I do use more disk space than that?
That depends on the use case and access patterns.
What kinds of things should I take into account when making this decision? Are there any reading materials you have I can understand this better?
We are basically storing a lot of log files in Elasticsearch and using Kibana for monitoring.
There are a number of blogs and webinars available on the Elastic website but I do not have links right now. I would recommend searching for “sizing” and “storage”.