What do products, plants, and records have in common? They all have a life cycle!
You may be familiar with the product life cycle of the plant life cycle, but I bet you didn’t know that records have a life cycle either. The life cycle of a recording describes the various phases that a recording follows throughout its life. Let’s take a look at what are the phases of a records lifecycle.
Records don’t just pop up and are stored on desks in file cabinets or computer memory. People make and place them there. The concept of the life cycle implies that recorded information has a “life” similar to a biological organism, from birth (the creation phase), where it lives (the maintenance and use phase), and dies (the availability phase).
Record life cycle management is a fundamental principle of record management. You thought the life cycle was only for animals and humans, right? It turns out that recordings have a life cycle too! Of course, these life cycles are very different from one another, but all life cycles begin and end in the same way. What is the recording cycle like for many companies: Invoicing?
Like humans, electronic records are born, live, and die. Birth is when they are created and stored in the system. They live as long as they are useful and then face death from extinction. Unlike human life, life cycle records should not be left unchecked. Your company should have a clear policy on how to store and store files before they are destroyed.
It understands what we do best starts with understanding the scope of our area of expertise. The data lifecycle is often much more complicated than simply gathering and storing information. This is known as the information life cycle, and demonstrating how getting the most out of your data solution requires a different understanding of the many aspects that affect the presence of information about your business.
Information lifecycle management is the practice of applying specific guidelines to manage information effectively throughout its useful life. It covers every stage of “recording” from start to finish. And while this usually applies to information that fits the classic definition of a data set, it applies to all sources of information. While present, information can be logged by being identified as documentation of business transactions or as to satisfactory business needs.
Information lifecycle management includes policies, processes, practices, and tools that align the business value of information with the most appropriate and cost-effective IT infrastructure from the moment the information is created to its final delivery. The information is tailored to business processes through management policies and service levels relating to applications, metadata, information, and data.
What is the records and information life cycle?
Whether your team has an in-house system or uses an external record management service, it’s essential to understand the record lifecycle. You want to position your organization so that personnel documents, customer agreements, and other records are better managed and legal retention rules are followed.
What are the five phases of the record life cycle?
Although there are differences in the record life cycle, the recording can be divided into five phases.
What activities are typically performed in each phase of the records and information life cycle
- Create: When your company generates its proposal, the writing cycle begins with creating a document. When receiving a contract proposal by email, the processing cycle begins when the documents arrive.
- Storage: Once data is created in the organization, it must be stored and protected with an appropriate security level. A robust backup and restore process must also be implemented to ensure data retention throughout the life cycle.
- Use: During the data lifecycle usage phase, data is used to support the company’s activities. Data can be viewed, processed, modified, and stored. An audit trail should be maintained for all critical data to ensure that all changes to data are fully traceable. Data can also be made available to disclose to others outside the organization.
- Archive: A data archive is a copy of data in an environment where it is stored if needed again in an active production environment, and the removal of this data from all active production environments.
- A data archive is simply a place where data is stored, but no maintenance or general use is carried out. If necessary, the data can be returned to a suitable environment.
- Destruction: The amount of data that is archived is sure to increase, and even if you want to keep all your data on forever, you can’t. Storage and compliance issues are pressuring you to destroy data you no longer need.
- Data destruction or cleaning is the removal of a copy of a data item by an organization. They are usually made from archival storage. The challenge at this stage of the lifecycle is ensuring that data is appropriately destroyed. It is essential to ensure that data has exceeded the mandatory retention period prior to data destruction. If the document is no longer useful and there are no legal retention requirements, you can safely delete it. The document recording cycle has ended.
In short, the days when essential notes were kept in boxes at the office are long gone. It’s time to organize your library in file style. It’s easy to see that the essential concern is the company’s ability to quickly access the data set when it’s needed and to control all valuable business information at all times.
This is the leading life cycle of record-keeping, but your company may need to make changes to suit your business needs. For example, some organizations may have additional records management systems for archival research purposes or have established records management policies that frequently change from an active to an inactive state. This can be of significant benefit by implementing a suitable organization of the information weapons life cycle model.