Information Lifecycle Management (ILM)

What is Information Lifecycle Management (ILM)?

Information Lifecycle Management (ILM) is a systematic approach to managing the flow of an organization's information from creation to disposal. It involves identifying, classifying, and storing information in a way that aligns with the value of that information to the organization.

ILM aims to optimize the value of an organization's information assets by aligning the cost and complexity of storing and managing the information with its value to the organization. This includes identifying the appropriate storage and retention periods for different types of information, as well as determining when it is no longer necessary to retain certain information and can be disposed of.

ILM involves several key components, including:

  1. Classification: This involves identifying and labeling information based on its value to the organization, as well as any regulatory or compliance requirements related to its retention.
  2. Storage: This involves determining the most appropriate storage location and format for different types of information based on their value and the cost and complexity of storing and managing them.
  3. Retention: This involves determining how long certain types of information should be retained based on their value to the organization and any legal or regulatory requirements related to their retention.
  4. Disposal: This involves securely destroying or deleting information that is no longer needed or has reached the end of its retention period.

ILM can help organizations reduce costs and improve efficiency by ensuring that they are only storing and managing information that is necessary and valuable, and by streamlining the process of storing, managing, and disposing of information. It can also help organizations meet regulatory and compliance requirements related to the retention and disposal of information.

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