The Data Lifecycle

The video discusses the concept of data lifecycle management, emphasizing its importance in managing data as a valuable asset. It outlines the stages of data lifecycle management, including data collection, storage, maintenance, use, and cleaning. The video highlights the benefits of effective data lifecycle management, such as improved data security, reduced risks, and enhanced business performance. It also stresses the need for policies and strategies to ensure data quality, privacy, and security throughout its lifecycle.

What is the primary value of data in an organization?

• When it is archived for long-term storage

• When it is collected in large volumes

• When it is in use or has potential for future use

• When it is stored securely

What is the first stage of data lifecycle management?

• Data collection

• Data maintenance

• Data storage

• Data cleaning

Why is it important to standardize data collection?

• To reduce the amount of data collected

• To ensure data is collected quickly

• To make data collection more expensive

• To gather data in a format that is easy to manage later

How should data be stored if it is not actively used?

• Without any backup

• In multiple locations

• Archived or deleted as an inactive asset

• As an active asset

What is a crucial aspect of data maintenance?

• Data archiving

• Data deletion

• Data integration

• Data collection

What role does data play in an organization's decision-making process?

• It is used to guide decisions

• It is stored for future use

• It is archived for security

• It is deleted after use

Why is data cleaning important?

• To remove data that is no longer useful

• To increase data storage costs

• To ensure data is always available

• To make data collection faster