A method for managing cache memories includes providing a computerized system including a shared data storage system (CS) configured to interact with several local servers that serve applications using respective cache memories, and access data stored in the shared data storage system; providing cache data information from each of the local servers to the shared data storage system, the cache data information comprising cache hit data representative of cache hits of each of the local servers, and cache miss data representative of cache misses of each of the local servers; aggregating, at the shared data storage system, at least part of the cache hit and miss data received and providing the aggregated cache data information to one or more of the local servers; and at the local servers, updating respective one or more cache memories used to serve respective one or more applications based on the aggregated cache data information.