• October 5, 2022

What Is Data Lifecycle Management (DLM)?

 What Is Data Lifecycle Management (DLM)?

Today’s organizations are absolutely data-driven. They depend on data from every angle to run a business. From gaining new customers to creating new products, the data-driven approach is one of the leading trends for growing a business. 

There are many sources from which you can get a huge amount of data. It might be mobile applications, social media, or a marketing campaign. The information or data is very essential within its lifestyle, from invention to deletion. 

However, dealing with too much data can be unorganized and frustrating, so it results in many missteps and losses in a business.

 

What Is Data Lifecycle Management?

The DLM or Data Lifecycle Management has numerous definitions, but it’s sometimes hard to understand. This policy-based approach can be confused with other Information management systems such as ILM (information lifecycle management). 

It can be simply said that DLM is the process, procedure, and policies of information of a business within its lifecycle. DLM is not for specific products. Instead, it is comprehensive data of the whole business. 

From deletion to creation, it can operate according to the policy-based system, which manages the information through various applications and databases and stores files. 

A well-organized DLM process confirms that the organization well understands the approaches. Along with it is listing, outlining, and controlling the data throughout its lifecycle. This management system also ensures that the most current data can be accessed easily with its higher speed.

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The Stages Of Data Lifecycle Management

Below we have mentioned the steps of data lifecycle management. However, most businesses follow these stages generally.

1) Data Creation

The first stage of data lifecycle management is data formation or creation. It means new valued data enters an organization’s business management system. 

It may be from different sources, such as existing information about a company. Or gaining data from outside or data from various network devices such as the internet of things, smart computers, etc. 

In this case, collected data can be well organized, structured, or unstructured. In this stage, a business can specify the data based on its file formats, such as internal, public, private, sensitive, etc. 

2) Data Retention And Conservation

Once the business data is collected, it is important to store the data securely and also maintain a neat structure of the data. A whole data backup and recovery process must be placed in the management system so that it remains the same throughout its lifecycle. 

Along with apt security, management should ensure that the existing data is not altered. In this case, the business records must be stored to maintain the relevant laws and regulations. In this stage, you don’t have to derive any useful value from the existing stored data. 

3) Data Usage

This stage is one of the most important steps in DLM. At this step business, needs to observe, process, reorganize, and save the information. In addition, this phase involves using the data for several organizational purposes, which means from decision-making to analyzing the organizational information through its lifecycle. 

There are also many laws and regulations which are associated with this step. Legal implications may occur if anyone in the firm uses the data.

4) Data Publishing

At this stage, data should be shared with the organization’s employees, clients, stakeholders, and other legitimate users. This stage is of utmost importance because the records of the company are being shared internally as well as externally. This means by using that data, a company can market and advertise both.

5) Data Archiving

Another crucial step of DLM is data archiving. In this step, one can’t frequently access or use the data, but it must be stored for future litigations and investigations.

The data can be stored in an active production environment. Basically, the DLM strategy of an organization should clarify where, when, and for how much time it has to store the information. 

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6) Data Deletion

After computing the unit of stored data, it has been seen that 2.6 quintillion data are formatted every day. So it is impossible to store the whole data of any business. Along with it is not only issuing the huge amount but costs and compliance of the stored data must be required. 

Therefore, it is good to delete the data and create the active file storage for the current data. During this stage, data is deleted from archives because the longer data is retained it will become meaningless for the organization. 

Last Words

The data management lifecycle basically goes through the above-mentioned six steps. In this case, if any business misuses the data, then legal issues may occur. Or else the company may break down at any moment. 

So be careful while the data management system is being controlled because DLM can enrich you to reach the edge of success. 

We hope you liked this article. Stay tuned for more such blogs.

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