Rotational gameplay: how to do it?

An overview of work with features that are updated from update to update: from setting a task to regular releases in the game's timelines.
What processes and teams do we need? How to optimize the approach to content and settings? What should the initial balance be based on?
To what extent can and should we influence the feature through testing and pre-release polishing?
What is important when analyzing statistics and player feedback? How to effectively transfer our features to the rails of regular rotations?
Also as a bonus - some life hacks.