Data Life Cycle Management (DLM) Data life cycle management (DLM) is a policy-based approach to managing the flow of an information system's data throughout its life cycle: from creation and initial storage to the time when it becomes obsolete and is deleted. DLM products automate the processes involved, typically organizing data into separate tiers according to specified policies, and automating data migration from one tier to another based on those criteria. As a rule, newer data, and dat...