Methods and systems for a networked storage environment are provided. One method includes storing at a storage device by a processor a data structure with information regarding a plurality of compatible software and hardware components configured to operate in a plurality of configurations as part of a storage solution for using resources at a networked storage environment for storing data; obtaining by a processor executable configuration advisor information regarding a plurality of deployed components of a deployed configuration from among the plurality of configurations; comparing the deployed configuration with a latest configuration having the plurality of deployed components from among the plurality of configurations stored at the data structure; and recommending a change in at least one of the plurality of deployed components to upgrade the deployed configuration, when the deployed configuration is not the latest configuration.