Data lifecycle management is important because it shows you which data to keep and which to remove. DLM is exactly as it sounds – the management of data flow, spanning from its original upload until its potential deletion. As large companies amass a multitude of data, the ability to hold and store all of this information becomes problematic. This is where data lifecycle management comes into play. The process of clearing out irrelevant data can be automated and remaining data is arranged based on set policies or guidelines.
By consistently maintaining data lifecycle management, you will have a clear understanding of which data you need to access frequently and which data you can store on a more cost-effective platform. It is essential that you have a good handle on your data to ensure that it continues to meet regulations and compliance for your specific industry. It is also vital that you can easily access all of your organization’s data and understand what it means. By relying on past insights and knowledge, you will be able to make smarter decisions, positively impacting your company’s future and improving business intelligence.
With a clear and organized data lifecycle management process, you can quickly filter through your company’s data. DLM allows you to pinpoint which information is valuable and which data can be removed. The important data can then be categorized accordingly, thus making it easier to access in the future.