Actually you can't create a pagefile. On a windows environment (in Linux is swap), pagefile can be disabled or moved, not created. Now the utility of pagefile should be only in case you are out of ram. This is not really true because when you install a new server usually you have enough ram but the pagefile is still there.
if you run a x64 bits you can add ram freely, with x86'you can't add more than 4 GB.
In a storage / backup environment, you should have a partition (better if separated from the SO and data files), where you can put the page file dynamically.
How many users will access your server ? How much ram?
If you read near the end of the link, there's a section dedicated to "how to monitor pagefile".
Let me know if you need further help.