The efficient management of data in business
Data Lifecycle Management (DLM) refers to the conceptual and practical approach to managing data throughout its lifecycle. This lifecycle encompasses various phases, from creation and capture, through storage and use, to archiving and deletion. Based on specific guidelines and structured data management processes, DLM helps to use, store, secure and archive data efficiently.
The Use phase of the data lifecycle focuses on the active use and processing of data to create maximum value for companies and organizations. This phase is crucial as data is analyzed to gain valuable insights for business decisions. With advanced techniques, data and the use of artificial intelligence, data can be promisingly used for forecasts and trends.
In the storage phase, data is stored on different storage media, depending on its importance and frequency of access. Newer data and data that is accessed frequently is stored on faster but more expensive storage media. Less important data is stored on less expensive but slower storage media. Depending on the company’s infrastructure, these storage media can be in the cloud or on-premises - a hybrid approach can also be implemented at any time.
Another component of data lifecycle management is the backup phase. In this phase, data is backed up so that it can be restored in the event of data loss. This ensures data integrity and availability.
In the archiving phase, data that is no longer actively used but must be retained for legal or business reasons is stored securely in an archive for the long term. Archived data is often stored on less expensive storage media as it is accessed less frequently.
Our experts can support you with their specialist knowledge in all phases. We address your business requirements and ensure that your data strategy is optimally aligned with your business goals and requirements.
Discover more: In-depth insights on the topic
Data management encompasses the administration, organization and use of data in order to strengthen the innovative capacity of companies and enable smart process automation.
Gaining better insights from data and making informed business decisions - that’s what big data management is all about
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