My current thinking is to keep data in the Analytics tier for 90 days, and once it passes 90 days, Change it into something cheaper for long-term retention / the data lake tier.

As far as I understand, this is done on a single table by setting interactive retention to 90 days and total retention to 1 year (365 days). So on day 91, does that data automatically move into the lower-cost state on its own, while staying in the same table? Is my understanding correct?

Also is there a better way to achieve this that I'm missing? I originally assumed I could age data into the Basic tier, but from what I've read Basic only has a fixed 30-day window and can't be used as a destination for aging data. Please correct me if I'm wrong.