Lesson: Data Life Cycle

In this lesson, Nick Palazzolo, CPA, dives deep into the complexities and intricacies of the data life cycle, elucidating the various stages from creation to disposition. He starts by exploring how data is generated, emphasizing the importance of quality and accuracy from the outset to set a solid foundation for subsequent phases. Nick then navigates through the processing and storage of data, shedding light on considerations like data validation, integration, and the selection of appropriate storage solutions based on size, access frequency, and structure. As the lesson progresses, he discusses how data is utilized for analysis and decision-making, ensuring it is accessible, efficiently processed, and securely managed. Nick also covers the stages of data sharing, archiving, and the final step of data disposition, highlighting the critical aspects of security, compliance, and performance optimization. Throughout the lesson, real-world examples and scenarios are used to illustrate how each phase is crucial for effective data management and governance, making the content not only informative but also highly applicable.