Applying a lifecycle policy to the Amazon S3 objects will allow the company to transition their data based on defined periods of time to meet their cost-saving and data access needs. By first transitioning to a storage class designed for infrequent access such as Standard-Infrequent Access (S3 Standard-IA), and then archiving to Amazon S3 Glacier or Glacier Deep Archive after the specified time frame, the company can optimize their costs while keeping the data available for future access if needed. Other answers may seem plausible, but they do not match the criteria of moving data to cheaper storage classes followed by archiving as a process, which is the essence of lifecycle policies.