Page Life Expectancy is the number of seconds the average page of data has been in the buffer pool. Keeping the data in memory gives SQL Server quicker access to it instead of making it long by accessing the same from disk.
You can find the value of the PLE by running the following query.
SELECT [object_name],
[counter_name],
[cntr_value] FROM sys.dm_os_performance_counters
WHERE [object_name] LIKE '%Manager%'
AND [counter_name] = 'Page life expectancy'
The recommended value of the PLE counter is (updated: minimum of) 300 seconds. I have seen on busy system this value to be as low as even 45 seconds and on unused system as high as 1250 seconds. Page Life Expectancy is the number of seconds a page will stay in the buffer pool without references. In simple words, if your page stays longer in the buffer pool (area of the memory cache) your PLE is higher, leading to higher performance as every time request comes there are chances it may find its data in the cache itself instead of going to the hard drive to read the data.
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