This is what is commonly known as "version history" or "revisions".
Sharepoint as well as WordPress has it out of the box, and I agree it would be a nice addition.
Sometimes we log changes made with help of the GET_CHANGES function:
If ImportantBo WAS CHANGED Then
CREATE Log WITH
Log.Changes=GET_CHANGES(ImportantBO),
Log.Description='Made some changes',
Log.Time=CURRENT_TIMESTAMP,
Log.User=LoggedInRegularUser.LoginName,
Log.ImportantBO=ImportantBO
Pretty useful if someone screwed up the data, but is of course not a replacement for a proper versioning function.