Entity Life History

What is meant by Entity Life History?

The term "Entity Life History" refers to the complete recording and management of an entity's lifecycle (e.g., a product, an order, a customer) within a system. This history encompasses all relevant events, status changes, interactions, and transactions that an entity undergoes during its existence. The "Entity Life History" is crucial for understanding the development and status of an entity, enabling seamless tracking and analysis.

Typical software functions in the area of "Entity Life History":

1. Event Logging: Automatic capture and storage of all events and actions related to an entity, including timestamps and participants.
2. Status Tracking: Documentation of the various statuses an entity goes through during its lifecycle, e.g., from "created" to "in progress" to "completed."
3. Change History: Tracking of all changes made to an entity, including values before and after the change and the responsible users.
4. Audit Trail: Providing a detailed audit trail that makes all interactions and transactions with an entity traceable to meet compliance and security requirements.
5. Entity Linking: Capability to document relationships between different entities, e.g., linking an order to the associated invoices.
6. Reporting: Generation of reports and analyses on the lifecycle of entities to identify trends and optimization potentials.
7. Notifications: Automated notifications about important events in an entity’s lifecycle, such as status changes or special incidents.
8. Traceability: Ensuring full traceability of an entity throughout its lifecycle, including all relevant data and documents.
9. Archiving: Long-term storage of the Entity Life History for compliance purposes and historical analyses.
10. Restoration: Ability to restore an entity's status to a specific point in time, if necessary.