Life Cycle Management

Information Life Cycle Management

What Is Information Life Cycle Management?

Information Life Cycle Management

Information Life cycle management is the range of procedures and strategies to manage data and information flows from creation and storage through to elimination. Information life cycle management is often considered a more complex subset of data life cycle management. Data management professionals emphasize that information lifecycle management should be an organization-wide enterprise, involving procedures and practices as well as applications. The framework that comprises Information Life Cycle Management needs to accommodate the goals and business drivers of the organization that employs them. This forms part of the organizations overall business and information technology strategy.

Despite the advances in technology, organizations are still grappling with the growing complexity and cost of information life cycle management solutions. Downtime requirements, time to zero values and regulatory compliance can all shape an organizations data decision making framework. Having a company wide integrated process where stakeholders participate and submit data requirements assists a company to anticipate and create the necessary framework to facilitate these requirements.

Information Life Cycle Management

The cost of implementing redundancy setups to minimize critical data downtime is one area of Information Life cycle management importance. If information flows get severed, other data dependent systems and real time applications cease to function. This can create a domino effect for the organization. In the case of online companies that integrate real time processing with backend office processes, if the server for payment processing goes offline, the money lost from neglected transactions has a significant effect on a companies bottom line.

Alternative storage decisions for the information life cycle management can create cost savings by moving less time critical data as defined by time to zero values. If the system dependency for data is limited to that of the previous day, the archiving process can integrate less expensive options to move and archive old data. Knowing which data to store, how and to what degree requires conscientious planning and implementation.

The regulatory and the retention requirements of the Sarbanes Oxley Act influence and shape company opportunity and cost of data storage. As more data becomes available, companies are faced with storage decisions to comply with regulatory time requirements. This is getting increasingly complex. By determining and providing information life cycle management requirements as part of the application deployment process, you can help to align information management actions with the value of the initiative right from the get go. However, when new regulations get passed, building and accommodating flexibility into your information architecture can create significant organizational and data management challenges.

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