What is the first step in the Data Lifecycle Process?

Prepare for the Information Systems and Controls (ISC) CPA Exam. Study with flashcards and multiple-choice questions, each with hints and explanations. Get ready to excel!

The first step in the Data Lifecycle Process is definition. This step is crucial as it involves defining what data is necessary for the organization's needs. It sets the stage for the entire data management process by establishing the goals and objectives for the data being handled, ensuring that all subsequent stages have a clear purpose. By clearly defining the data, organizations can determine what types of data they need to collect, how they will be used, and the specifications required for data quality and governance.

The definition phase not only aligns data with business objectives but also helps identify data sources, types, and formats needed for effective decision-making and analysis in later stages of the data lifecycle. This clarity is essential, as it influences how data will be captured, prepared, analyzed, and ultimately used within the organization. Proper definition ensures that all stakeholders have a common understanding of what constitutes the relevant data, which is the foundation for successful data management practices.

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