What is data decay phenomenon?

Data decay phenomenon refers to the loss of accuracy and relevance of data over time. As time passes, certain data points or information may become obsolete, irrelevant, or inaccurate due to changes in the environment, technology, or other external factors. This can render the data unreliable or unusable for decision-making and analysis purposes. Data decay can occur in various forms, such as information becoming outdated, errors creeping into the data, duplication of data, or loss of data due to storage or cyber-attacks. To minimize the risk of data decay, companies need to have an effective data management strategy, which involves regular data updates, data cleansing, and quality checks, among other measures.