Data lifecycle management is a term that has been thrown around quite a bit recently, but what does it mean? In this article, we will break down the three main goals of data lifecycle management in order to answer this question. Data lifecycle management is the process by which data can be identified and managed throughout its life cycle. This includes things like data retention policies, information governance processes and more. The goal of these processes are to help increase organizational efficiency by limiting waste and avoidable risk exposure.
Keywords: data management , data lifecycle management
The Three Main Goals of Data Lifecycle Management: The goal of data lifecycle management is to help reduce organizational risk and increase efficiency. This includes managing the identification, storage, retention, protection and disposal processes for information throughout its life-cycle. There are three main goals that can be achieved through this process including minimizing cost when needed; reducing waste by ensuring only necessary information is stored (phasing out old versions); limiting exposure to avoidable risks such as security breaches or other unintentional release of sensitive data
In order to truly understand how important it is for organizations to implement a robust data lifecycle management strategy into their organization’s daily operations we must first take a look at what exactly is the data lifecycle.
Information is created in many ways, not exclusively through manual input or electronic processing of information like computers and other devices do every day. Sometimes new information can be identified from old sources such as using text mining techniques to uncover patterns that were stored away for years or put out of sight by accident for a time period.
Once collected into an organization’s system, this raw material can then go through three different stages before it becomes obsolete: identification; storage; retention and protection (or disposal). Identification ensures you know where the information came from so you can ensure accuracy if needed later on during any steps throughout its lifetime. Storage happens when your pile of paper gets scanned or turned into digital files which are then saved to some kind of system. Retention is the process whereby you make sure that information isn’t just saved, but it also stays safe and secure. Disposal then occurs when the data has fulfilled its purpose or can be destroyed without jeopardizing any other valuable resources
The three goals are to identify; store; and protect (and dispose) your data throughout its lifecycle in order to maximize efficiency while minimizing risk so as long as it reaches an end point where it no longer needs protection
Data Lifecycle Management Explained: The Three Main Goals
What are the three main goals of Data Lifecycle Management? One goal is identification which ensures accuracy if needed later on during steps throughout a piece’s lifetime. Another goal is storage which happens when information is saved and safeguarded. The last goal happens when the data has fulfilled its purpose, or it can be destroyed without jeopardizing any other valuable resources (disposal).
The three goals are to identify; store; and protect (and dispose) your data throughout its lifecycle in order to maximize efficiency while minimizing risk so as long as it reaches an end point where it no longer needs protection
One of these steps is identification which ensures accuracy if needed later on during steps throughout a piece’s lifetime. Storage takes place when information is safely stored for later use. When the data fulfills its purpose, discarded occurs at this stage without risking damaging any other important resources.
Goal: Identification- Ensures accurate pieces of information are available
Goal: Storage- Keeps the data safe for future use
Goal: Discard- Disposes of information when it no longer needs to be protected.
Identification – Ensures accurate pieces of information are available
Storage – Keeps the data safe for future use
Discard – Disposes of information when it no longer needs to be protected.”]]]}}}}}},{id:”Rule”,name:”Short Form Content Rule”},{type””: “Textarea”}],selected:[[“text”,”Content Area”],[null,”Previous”]]}), typeof(IVideo){data=[{“@context”:”youtube,schema”,”videoID”:”0_yvfNwcuIk”,”title”:”Data Lifecycle Management Explained: The Three Main Goals”,”description”:”what are the three main goals of data lifecycle management (dlm)?”,”contentUrl”:”youtube.com\/watch?v=0_yvfNwcuIk&context=sc-video”}],selected:[[“text”],[null,null]},typeof(Link):undefined}]);
return config;}})(); // SCRIPT CONFIG END //SCRIPTS START /** * Update content to support more nested repeating items and different types */
function updateContent() {
document.getElementById(“row”).style.clearBeforeAfter = true; var inputElements = document.querySelectorAll(“.item”);
var config = {}; // Config object to store the content of all elements that match .item
for (i in inputElements) { if (!config[inputElements[i]]) { var cloneInputElement = document.createElement(‘div’); cloneInputElement.innerHTML=inputElements[i].textContent; config[cloneInputElment] = true;
document.getElementById(“row”).appendChild(cloneInputElement); } }} // SCRIPTS END /** * Update content for new rows */function updateNewRow() {updateContent();var rowIndex++;if (rowIndex >= numberOfRows){setTimeout(updateNewRow, 3000)}else{add
Concluding paragraph:
Data lifecycle management is the process by which data can be identified and managed throughout its life cycle. This includes things like data retention policies, information governance processes and more. The goal of these processes are to help increase organizational efficiency by limiting waste and avoidable risk exposure. To learn more about how this might benefit your organization, contact us today!
