Caching in PHP using the filesystem, APC, Memcached and Redis.
If you have some data read from database which you need several time during page creation cache it locally do not depend on any other types of caches.
If you have just one web server or your data set is small so it fits in memory in each of the servers APC Cache may be the most efficient way for you to cache the data.
If local node cache is not large enough to cache good amount of data caching on network by using memcached is very good way to go.