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ILM governs information across its lifecycle using policies for classification, retention, archival and deletion to achieve compliance and cost efficiency.
Information Lifecycle Management (ILM) defines strategic principles and operational processes that govern information from creation through use, storage, archival and deletion. Its goals are legal compliance, cost efficiency and improved data availability via classification, retention rules and automated lifecycle policies. ILM aligns organizational requirements with technical mechanisms such as retention schedules and archival workflows.
Monetary cost for storage per terabyte over time.
Percentage of data residing in archival tiers.
Number and severity of deviations found in audits.
Applying ILM principles to automatically migrate objects to lower‑cost storage classes in AWS S3.
Central matrix mapping data types, retention periods and owners across business domains.
Process for auditable archival of financial records including audit logs and proof of retention.
Analyze datasets and create a metadata schema
Define retention rules and classifications
Implement technically in storage platforms and workflows
Introduce monitoring, audits and reporting
Regularly review and adjust policies