Difference between life cycle manager and import wizard

Can any one tell me about life cycle manger. To my knowledge we use import wizard to move the data from from one environment to other. then what is the purpose of life cycle manager.
weather we need to install on the boe xi 3.1 server(solaris server) or do i need to install on the client machine. do we need separate licence to get this are is it free.

LCM enables you to store several versions of the same BOBJ object (eg reports). This is very helpful for development projects eg. if your testing phase fails you can rollback to an older version of your reports.
Regarding the license you have to ask your local SAP sales representative. I know that the license is normally bundled in BO license packages but only SAP sales can provide an official statement about this.
My personal recommendation: If you want to move a limited number of objects on-demand and fast then use the Import WIzard. Otherwise use the LCM.
Regards,
Stratos

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