What Is a Data Retention Policy & Why Is It Important?
A data retention policy, or a record retention policy, is a business’ established protocol for maintaining information. Typically, a data retention policy will define: For more at Data Retention Policy What data needs to be retained The format in which it should be kept How long it should be stored for Whether it should eventually be archived or deleted Who has the authority to dispose of it, and What procedure to follow in the event of a policy violation Though the primary purpose of a data retention policy is to ensure proper data management in accordance with relevant legal statutes and regulations, it’s also an excellent way to enhance efficiency within your organization.Data retention, or record retention, is exactly what it sounds like — the practice of storing and managing data and records for a designated period of time. There are any number of reasons why a business might need to retain data: to maintain accurate financial records, to abide by loc...