Information Lifecycle Management (ILM) is a comprehensive approach to managing the flow of an information system's data and associated metadata from creation and initial storage to becoming obsolete and eventual disposal. ILM strategies aim to reduce costs and risks by identifying and moving less critical data to cheaper storage tiers or archiving it, while ensuring that important data remains accessible and protected throughout its lifecycle. It's commonly used to optimize storage resources, meet compliance requirements, and improve data governance.
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