Though data is the lifeline of any organization, it loses its value after a period of time. Though data value depreciates, current compliance needs and security aspects require data for analysis and trend monitoring. Data lifecycle management is an area that manages the enterprise data throughout its lifetime.

The prime need for data management has risen from the constant threats faced by digital data. Data archival and eDiscovery are systems that work with lifecycle management tools. Archival products are used to store old data and make space for the new and vital data. They are used to cut down on resource and overhead cost for the company. eDiscovery products are used to retrieve business and financial data from storages to use them for reporting purposes. Proper data management can help in avoiding multiple storages and improving overall efficiency of database storages.