Install Status vs Hardware Status vs Substatus vs Operational status vs Lifecycle stage status fields on the CI form?

[Suggy]

So many status fields on the CI form --> Install Status vs Hardware Status vs Substatus vs Operational status vs Lifecycle stage status

Which fields to use in which situation, along with Asset status fields.

PS- again there are so many posts on this topic but totally confusing. If any one has got proper clarity on this, please do share.

[Jochen Geist]

@David Skowronek wrote a great blog post on this: CSDM 4.0: (any) Status attribute vs. Life cycle

[Nachiketh Rahul]

This is how i drew out the picture