Cloud
Best Practice: Implement data lifecycle policies to manage storage costs
Sep 12, 2024
Data is a valuable asset for any organisation, but managing its lifecycle effectively can be challenging. Implementing data lifecycle policies automates the movement of data between different storage tiers based on access patterns, significantly reducing costs while ensuring that data remains available when needed.
Why Data Lifecycle Management Matters
- Cost efficiency: By automatically moving infrequently accessed data to cheaper storage tiers, organisations can optimise storage costs without sacrificing data availability.
- Regulatory compliance: Data lifecycle policies can help organisations comply with data retention and deletion regulations by automatically archiving or deleting data based on predefined retention schedules.
- Operational efficiency: Automating data management processes frees up IT teams to focus on more strategic tasks, improving overall operational efficiency.
Implementing This Best Practice
- Define access patterns: Analyse your data usage patterns to identify which data is accessed frequently and which can be archived or deleted. This understanding will guide your lifecycle policy creation.
- Create lifecycle policies: Use cloud services like AWS Glacier, Azure Cool Blob Storage, or GCP Nearline Storage to define lifecycle policies that automatically move infrequently accessed data to lower-cost storage tiers.
- Set retention policies: Implement retention policies that align with regulatory requirements, automatically deleting data that has reached the end of its retention period. This not only reduces storage costs but also minimises compliance risks.
- Monitor and adjust policies: Regularly review your data lifecycle policies to ensure they align with changing business needs and regulatory requirements. Make adjustments as necessary to optimise cost and efficiency.
Conclusion
Implementing data lifecycle policies is a smart strategy for managing storage costs while ensuring data availability and compliance. By automating the movement of data between storage tiers and defining clear retention policies, organisations can optimise their data management processes and reduce unnecessary expenses.
