What is the main purpose of data lifecycle management?

The main purpose of data lifecycle management is to effectively manage data from its creation, through its active use, and ultimately to its disposal. This comprehensive management approach covers all stages of the data lifecycle, which includes data creation, storage, usage, archiving, and deletion. By overseeing these processes, organizations can ensure that they are utilizing data efficiently, maintaining compliance with regulatory requirements, and optimizing storage costs.

This approach also enforces policies for data retention and data security, ensuring that data is properly handled throughout its life, minimizing risks associated with data breaches or loss. The structured management of data in this way allows organizations to derive maximum value from their data while also ensuring that obsolete or underused data is appropriately discarded or archived, thereby improving overall data governance.

The focus on the full spectrum of data management—from creation to disposal—highlights the importance of understanding data as a valuable organizational asset that requires careful stewardship throughout its lifecycle.