Information Lifecycle Management (ILM) is a systematic approach to managing data throughout its entire life, from creation to deletion. It involves classifying, storing, and archiving information based on its value and usage. This helps organizations optimize storage costs and ensure compliance with regulations. ILM also focuses on data security and accessibility. By implementing policies for data retention and disposal, organizations can protect sensitive information while making sure that important data is readily available when needed. This structured management enhances efficiency and supports informed decision-making.