Which mechanism is best for previous data archived in oracle? Our company has a big data server in which large data is stored, like images, video, audio, etc. Our company wants a process running with the new year, such that in 2020 the previous year's 2019 data will be automatically archived and removed tables the live tables.  In the future, we'll take a backup of the archived data.

I am new in this field. Which Mechanism should I use for this purpose?
If you used the optional feature table partitioning. You could easily drop the previous years partitions without affecting the current year. If it were me I would partition by month and sub partition by hour. You might want to keep more than the current year online. Hence partition by month would allow you to keep a rolling 11 months if you wanted and drop the oldest partition every month.