What does data lifecycle management involve?

Data lifecycle management encompasses a comprehensive approach to managing data throughout its entire existence, from creation to deletion. This involves implementing policies and practices that ensure data is effectively handled during its various phases, including creation, storage, usage, sharing, archiving, and ultimately deletion when it is no longer needed.

The correct option reflects this holistic perspective by emphasizing the establishment of policies that guide data management at every stage. This ensures not only compliance with regulatory requirements but also optimizes resource usage and enhances data security. The approach allows organizations to retain valuable data while efficiently disposing of data that no longer serves a purpose, thereby minimizing risks associated with data storage and management.

Other options focus on isolated aspects of data management. For instance, managing data solely during the storage phase does not consider the important stages of data creation or the necessity for secure deletion. Similarly, only facilitating data migration processes ignores the critical ongoing management of data in use. Lastly, exclusively deleting outdated data bypasses the necessary management practices that should occur throughout the data lifecycle, which are vital for regulatory compliance and data integrity.