For raster data, systems with ample RAM capacity will generally benefit* from storing a raster dataset in a RAM virtual drive. The concept is that a sizeable partition of RAM memory acts as a scratch disk or temp workspace. "RAMDisk" and "Ram drive" are good search terms for more information.
Additionally, ArcGIS 10.3+ provides an option to store vector data in an "In-memory Workspace". There are caveats to it implementation including limited use for only geodatabase vector/tablular data.
BE AWARE: the data stored on RAM drives is non-persistent. That data is destroyed if the system is powered down, OS reboots, crashes, etc., and in the case of In-memory Workspaces, when ArcGIS closes. You must essentially load and unload items into memory manually.
RAM drives can also work well with other programs where hard drive transfer speeds are significant bottlenecks. I would suggest the practice if you tend to have >10GB and >50% of unused memory while working (as of 2018).
*I speak from experience but have not benchmarked it quantitatively.