If timeline is enabled for a base object, you can manage record versions in the
view. A record can have multiple versions, and each version can be effective for a specific time period.
You can define the record versions based on their effective periods. Data changes occur over time and are independent of their relationship to other data. You can update the effective period or the data of past, present, or future versions. You can track these changes to data over a period of time.
For example, John Smith lived in Los Angeles effective from 31 January 2008 to 20 October 2010. He now lives in San Francisco effective from 21 October 2010. He will live in Las Vegas effective from 25 November 2014. You can track past, present, and future changes to data, such as the address data of John Smith.