Is a Data Product defined as having a stable structure and lifecycle management?

A Data Product is indeed characterized by having a stable structure and lifecycle management. This concept implies that a Data Product should maintain a consistent format and schema over time, which is crucial for ensuring that users can reliably access and consume the data. Stability allows organizations to build processes and use cases around the data without frequent disruptions caused by structural changes.

Lifecycle management indicates that the Data Product is not only designed but also actively maintained throughout its various stages—from initial development and deployment to eventual retirement. This includes updating, monitoring, and optimally managing the data to ensure its relevance and accuracy over time.

Having a stable structure helps in achieving data quality and consistency, which is vital for decision-making processes. In addition, effective lifecycle management ensures that data remains valuable and usable as business needs evolve, avoiding obsolescence and facilitating compliance with regulatory requirements where necessary.