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Basically speaking, information lifecycle management is about managing the retention of your information - from its inception in an SAP application, through its long-term storage on an archive system, until its final disposition (destruction) when it reaches its maximum retention time. 

SAP NetWeaver Information Lifecycle Managment

SAP NetWeaver Information Lifecycle Management (SAP NetWeaver ILM), SAP's suite for information lifecycle management (ILM), provides you the ability to build a truly holistic ILM strategy for your organization. This holds true for both structured and unstructured information, for live and legacy systems, as well as for SAP and non-SAP systems:

SAP NetWeaver ILM allows you to set up and manage policies governing the retention of your information. Thus you can retain different business records for different periods of time according to the policy or legal requirements. In addition, you can preserve records related to a current legal case by collecting and placing the records on hold during the course of the legal action. To streamline your IT infrastructure and save costs you can also decommission redundant systems while preserving full auditing and reporting capabilities for stored data.

Resources to learn more about information lifecycle management

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Use cases for information lifecycle management

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