Final answer:
You would need to create or replace a view if it requires modification or if changes in schema or security dictate updates in how data is presented and accessed.
Step-by-step explanation:
You would need to create or replace a view in a database under a couple of different circumstances. If a view with the same name already exists but needs to be modified, you would replace or redefine it. It's also necessary to create or alter views when updates to database schemas or security requirements mandate changes to the ways in which data is accessed and presented.
Regarding the specifics provided in the question, views that need to have update, insert, and delete capabilities must be carefully designed to ensure that they comply with the restrictions imposed by the underlying database system. Moreover, if the view is no longer being used, it may need to be dropped to clean up the database schema and optimize performance.
As for creating views on a daily basis to refresh data, this would typically involve creating dynamic or materialized views that automatically update, but the frequency of this operation depends on the specific use case and system requirements.
Also, unused views may be dropped to optimize database performance, and views can be dynamically refreshed depending on system needs.