Data Lifecycle

Question 1

Data Lifecycle

Answer 1

The data lifecycle refers to the stages that data goes through from creation to deletion. It ensures that data is effectively managed, secured, and utilized across its useful life. The idea that data has a lifecycle composed of distinct phases. Proper lifecycle management supports governance, compliance, and data quality goals.

Question 2

The Data Lifecycle Phases

Answer 2

Data Capture
Data Maintenance
Data Synthesis
Data Usage
Data Publication
Data Archival
Data Purging

Question 3

Data Capture

Answer 3

The act of creating data values that do
not yet exist and have never existed
within the enterprise. Data can be acquired, entered or generated/captured from automated systems. Data validation is an important control in this phase to ensure correct and complete data is captured. Acquiring raw data from various sources like sensors, user inputs, forms, transactions

Question 4

Data Maintenance

Answer 4

Involves tasks such as movement,
integration, cleansing, enrichment,
changed data capture, as well as
familiar extract-transform-load
processes. Essentially involves preparing data for use in the various parts of the business and storing data properly

Question 5

Data Synthesis

Answer 5

Creating new data based on inductive logic using other data as input. An important part of Decision Support Systems (interpreting data to support decision-making). Determining a customer’s credit score
based on financial data. Integrating, enriching, or deriving new insights from multiple data sources.

Question 6

Data Usage

Answer 6

The application of data as information to
tasks that the enterprise needs to run and
manage itself. Accessing and using data for reporting, decision-making, or analysis. Monthly Financial Reports to identify cost overruns

Question 7

Data Publication

Answer 7

Stage that involves sending
data to a location outside of the
enterprise. Important note is that data sent outside the organization cannot (usually) be
recalled or corrected. Example: Sending customers invoices. Sharing data with users, systems, or external platforms

Question 8

Data Archival

Answer 8

Copying of data to an environment
where it is stored in case it is needed
again in an active production
environment, and the removal of this
data from all active production
environments. Storing older or inactive data securely for long-term reference

Question 9

Data Purging

Answer 9

Data Purging is the removal of every copy
of a data item from the enterprise. Based on an organization’s document retention policies or on regulatory factors. Securely deleting data when it is no longer needed to meet storage or compliance requirements