@ankubasi You can configure Azure Monitor to generate data in activity logs, resource logs, virtual machine logs, and platform metrics. For more information, see Monitoring data from Azure resources.
Platform metrics and the Azure Monitor activity log are collected and stored automatically. This data be routed to other locations by using a diagnostic setting. Azure Monitor resource logs aren't collected and stored until you create a diagnostic setting and then route the logs to one or more locations. See the monitoring page for more details.
Metadata attached to your deployments is data of your resource. Hence, it is treated by the same terms as other data related to your resource. As mentioned in the data privacy page.
Azure OpenAI stores and processes data to provide the service and to monitor for uses that violate the applicable product terms. Please also see the Microsoft Products and Services Data Protection Addendum, which governs data processing by the Azure OpenAI Service except as otherwise provided in the applicable Product Terms.
If you enable diagnostic monitoring for your resource, you can control resource logging and its storage depending on the configuration chosen. If you delete your resource all information of the resource is deleted.
With respect to recovering deleted resource, Azure OpenAI follows the same practice as other AI services offered by Azure. Please see this page for details. The current message seen while deleting the resource also indicates that the resource cannot be recovered after 48 hours.
For information about microsoft managed keys, please see this page on encryption and management. Thanks!!
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