Meaning – The word archive refers to the process of saving old data in a secure location, in order to access it again at a later date, for the sake of study or practical usage. In the world of computers, there is a common misconception that archiving and taking a backup is the same thing. However, the process of archiving is done keeping in mind, a long term duration. In this, magnetic tapes and optical drives are employed. Backups are usually meant for short term purposes.
Companies archive their data and store them in secured locations, preferably with multiple copies spread across the world. This is done to ensure the longevity of the data, and multiple copies ensure that the data is safe and available in case of deletion from one of the saved locations.
Example of usage – “The new CEO decided to read through the archives of the company to better understand the expectations and benchmarks.”