Data Lifecycle Management (DLM), in general, uses a policy-driven methodology that may be automated to manage data from the moment it is created until it is destroyed. Consider a scenario where employee data is collected and kept in a database. After that, the data can be accessed for analytics, reporting, or other purposes.
Throughout the data’s useful life, logic and validation can be applied. However, the data may eventually become useless, for example if an employee retires or leaves the company, and can then be destroyed, archived, or purged.
Data Lifecycle Management is the process of defining and dividing this process into many stages and steps for enterprises.
Stages of Data Life Cycle Management and Recommended Practices.
To generate and expand revenue, create new opportunities, and compete favorably in the market, organizations rely on a variety of data types.
Focusing on data security, data resiliency, and data compliance will help you unlock the boundless potential that data offers. Due to its critical significance in the business decision-making process, data is now seen as a physical asset in an organization.
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Data lifecycle management and information life cycle management are frequently confused (ILM). The two are entirely dissimilar.
DLM works with unstructured data that is kept in relational or NoSQL databases. Both structured and unstructured data are possible. DLM is more interested in the record itself than the specific data included inside it. The tangible information that is created utilizing one or more bits of data is referred to as ILM, on the other hand. It guarantees that the data that is stored is correct and current.
Data lifecycle management and information lifecycle management resemble one other in several ways. But because ILM powers several levels of DLM, DLM cannot exist without ILM. Data generation or inception marks the beginning of the cycle.
DLM Stages and Ideal Techniques.
In today’s economy, data will be generated as a result of everything we do. The data lifecycle has no industry standard, although experts from nearshore software development services concur that it resembles the following:
Stage 1: Data Generation or Capture: Data Lifecycle Management
The cycle’s first step is this. The organization obtains fresh, accurate information. The information can be in the form of a PDF file, word or excel document, or image. Certain devices or roles within a hierarchy have access to the data, which is kept in a data infrastructure.
It is crucial to get as much precise information as you can at this point.
Ideal scenario: Clearly Specified Data Types.
Sort your data with care into a schema that considers the information’s sensitivity as well as the organization’s worth. Classifying data as public, sensitive, or public is a common classification strategy.
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Stage 2: Upkeep and Control Of The Data.
After being collected, data is stored in relational or NoSQL databases. The process of data management and maintenance makes sure that reliable data is always available for usage and publishing. The classification of data at this point includes internal, sensitive, restricted, and public. At this point, data protection regulations like access restriction, data masking, and data encryption are used.
The best practice is to have a thorough data policy that is communicated to everyone in the business so that it can be put into action.
Stage 3: Examine and Envision: Data Lifecycle Management
In this place, data is cleaned up and shared with the company’s clients and other outside parties. Enterprise resource planning, customer relationship management, and data warehousing are some examples of IT systems used to offer access to data.
Stage 4: Data Preservation or Erasure
The data is either deleted or kept at the final stage. Data is archived on discs or in cloud storage in encrypted format for long-term availability. Most archived data, mostly derived data, can be removed depending on the type of data.
Research and visit recommended data destruction procedures to ensure compliance.
Conclusion: Data Lifecycle Management
DLM is a crucial investment in developing a risk management strategy that guarantees your business is always compliant.
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