You can query and retrieve data for items based on dates (dates such as: created data, last modified date, released date etc).
Let us know if I misunderstood your question.
Is it on Item or ItemRevision ? If its ItemRevsion, you can retrive the old state using "Sequence" ( Of course, based on your configuration for sequences - like whether to keep it, no of sequences, etc )
You will be having data in datasets which are on Item Revisions, You can track the changes in these datasets by means of Version. Sequence will not be having any real time changes its just mechanism to know how many time your revision has been checked out even you havent modified anything in that.