What is ILM policy in SAP BC-ILM - Information Lifecycle Management?

SAP Term: ILM policy

• Component: BC-ILM

• Component Name: Information Lifecycle Management

• Description: An option for grouping related ILM rules belonging to an ILM object together within an audit area. For example, based on the policy name, you can differentiate between country-specific retention rules for an ILM object within an audit area. ILM rules cannot be used until the superordinate policy has been marked as productive.

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• Key Concepts: 
  Information Lifecycle Management (ILM) is a SAP component that helps organizations manage their data throughout its lifecycle. It provides a framework for managing data from creation to deletion, and helps organizations ensure that their data is secure, compliant, and cost-effective. ILM policies are the rules and regulations that govern how data is managed throughout its lifecycle. 
  
  How to use it: 
  ILM policies are used to define the rules and regulations for how data should be managed throughout its lifecycle. This includes defining when data should be archived, deleted, or moved to a different storage tier. It also includes defining who has access to the data and what security measures should be taken to protect it. 
  
  Tips & Tricks: 
  When creating an ILM policy, it is important to consider the specific needs of your organization. This includes taking into account the type of data being managed, the size of the organization, and any regulatory requirements that must be met. Additionally, it is important to ensure that the policy is regularly reviewed and updated as needed. 
  
  Related Information: 
  For more information on ILM policies, please refer to SAP's official documentation on Information Lifecycle Management (ILM). Additionally, there are many third-party resources available that provide additional guidance on creating and managing ILM policies.