The Document Versioning Pattern is a strategy used within MongoDB to manage historical versions of documents without relying on a separate version control system. It involves adding a version-tracking field to documents, with two collections: one for the most current data and another for historical revisions. This method is particularly beneficial in regulated industries like finance and healthcare, where retaining historical data is crucial. Despite its ease of implementation and ability to maintain query performance for current data, this pattern increases database writes and requires a separate collection for accessing historical information. The pattern is suitable for scenarios where document changes are infrequent and aligns well with industries like insurance, where policy updates need to be tracked over time. The pattern's design maintains simplicity in querying current data while allowing historical data access when needed, offering a practical solution for document version management in MongoDB.