Yes by audio data I mean the actual Wav files that Cubase creates. When you start a new project in Cubase, and you are recording your first track it will ask you where to store it(this is when you first click the little record button on the track). I create subfolders on my other drive, such as - Original Songs, and underneath that subfolders such as - Song1, Song2, Song3 etc, or real song titles.
Then when Cubase asks me where to save the info, I select d:\original songs\song1.
Having your files organized in this way makes it much easier to backup to cd-r rather than having a drive with 1000's of wav's scattered across it.