Can you tell me about lifecycle policies in Amazon S3?

S3 lifecycle policies let you automate the transition of objects between storage classes and the expiration of objects. You define rules that apply to objects with a specific prefix or tag. Common actions include: 1) Transitioning objects from Standard to Standard‑IA, One Zone‑IA, Glacier, or Glacier Deep Archive after a set number of days; 2) Expiring objects after a certain period or when they become non‑current; 3) Expiring non‑current versions of objects. Lifecycle rules help reduce storage costs and enforce data retention policies. For example, a rule might move logs to Glacier after 30 days and delete them after 365 days.