What is Data Lifecycle Management?

The Data Lifecycle goes through 5 steps: creation, usage, transport, storage and destruction. Most companies have parts of this lifecycle under control, but that means there are lots of areas for gaps in the control measures that could let a threat affect the data. The multiple part blog, (I am not sure how many parts it will take), will walk through the steps of the data lifecycle and what a company can do to implement a good process for all the data management challenges.

Data lifecycle management (DLM) is a policy and procedure based approach to manage information movement. Data has to be classified and evaluated to properly protect it with the right resources. Ownership is a key factor in managing and maintaining data throughout the lifecycle

The 5 Steps

  1. Creation – How does data creation get managed?
  2. Usage – What limitations are on data usage?
  3. Storage – What controls are in place for storage?
  4. Transportation – How is data transmitted between company, customers and business partners?
  5. Destruction – What is the validation and verification process over data destruction?

The Data Management Problem

  • Weak processes in place to track creation usage, transportation, storage and destruction
  • Weak ability to monitor and manage a customer record throughout the lifecycle
  • Inconsistent processes across each phase of data movement
  • Lack of enforcement capabilities

What should be the goal of data lifecycle management?

  • Provide practical steps to manage each step of the customer record management process
  • Provide cost effective solution for risk mitigation
  • Provide framework for data management
  • Reduce risk of data loss

Challenges to Customer Data Records Management

  • Rarely does a company have a centralized process to track controls over data, over management processes around data, over logging and monitoring, and removal
  • Organizations rely on technology to secure data not processes that drive technology purchases
  • The 5 steps of data management are not followed by all functional groups in a company
  • No clear ownership and classification of customer data elements

Did you know…

  • 1 in 400 emails contains confidential information
  • 1 in 50 network files contains confidential data
  • 4 out of 5 companies have lost confidential data when a laptop was lost
  • 1 in 2 USB drives contains confidential information
  • Companies that incur a data breach experience a significant increase in customer turnover—as much as 11%
  • Over 35 states have enacted security breach notification laws
  • Can openers were invented 48 years after cans
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