Data life cycle management

Data life cycle refers to the stages that data goes through, from its creation to its destruction. The following are the six stages of the data life cycle:

1. Creation: The creation stage refers to the phase when data first comes into existence or is collected through synthesis from other sources, such as consolidating a large amount of data into a report.
2. Storage: The storage stage refers to data being stored and thus becoming available for use.
3. Use: This stage refers to data being used or processed for a material output.
4. Sharing: This stage refers to data being shared with other users or entities for inference.
5. Archiving: When the data is no longer in use, it is archived to comply with regulatory/contractual requirements.
6. Destruction: Once the archival period is over or data is deemed inappropriate for usage, the data is destroyed using industry-standard best practices.

Figure 15.3 – The...