I would like to add a dynamic select field where options change from time to time. New options will be added along with old options in future. I know i can add form element using hook_form_alter and save values using node api in custom table created using install file of a module.
Is there any inbuilt mechanism where i can create a field and avoid dealing with schema and schema related queries ? My only concern is field should support dynamic options in future... Something like select field values will be pulled using a query.
PS: I hope above questions is not primarily opinion based. I believe many Drupalers might have faced above situation :-) Please do add a comment if form alter approach is the right one !