Lifecycle Management in Azure Blob Storage enables you to define rules to automate moving blobs between access tiers (hot, cool, archive) or deleting them based on time since last modification or creation. This helps optimize storage costs by ensuring data is stored in the most cost-effective access tier. Blob Versioning allows you to maintain previous versions of blobs but doesn't automate deletion or movement. Soft Delete protects blobs from accidental deletion but doesn't schedule blob movement. Access Tiers determine the cost and performance level of blobs but don't provide automatic scheduling capabilities.
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