S3 lifecycle policies are a great way to automate the data management task for the data in S3 and lower the cost of the data storage based on the access need. These are a set of rules that you can define on the bucket or objects that automate the migration of an object's storage class, or deletion based on the specified time interval. We have seen earlier in this chapter about the different storage classes and their characteristics. By default, lifecycle policies are disabled on buckets and objects.
Consider you have a business case, where your backup files need to be available for quick access for the first 30 days. After 30 days, you may need them only if there is a demand until 60 days; and, after 60 days, you would like to archive them on the long-term archiving storage for overall 1 year from the day of the object creation. For this business case...