Data retention policy is in general a protocol that is specifically designed for organizations. The purpose of this protocol (or set of policies) is to retain any and all information pertinent to the organization. The retention of this information could be for operational purposes or for regulatory compliance needs.
Why is the Data Retention Policy needed?
The data retention policy is needed to:
- Facilitate legal issues
- Improve business practices
- Personal convenience.
Objectives of the Data Retention Policy
- The data retention policy is created to choose a pre-determined length of time the corporation can and should maintain data.
- Each and every shred of data is important in its own unique way. But there comes a time when that shred of data outlives its usefulness. Through data retention policy, the length of retention is determined, depending on the importance and usefulness of the data.
- The data retention policy, along with determining the retention time, also determines the duration of archiving information.
- The policy also advises on the maintenance of the information retained.
- The policy specifically outlines the step by step process of destroying information that should not or cannot be retained.
Creation of the Data Retention Policy and What it Does
- To create the data retention policy, the IT administrative and the legal issues team, and the owners (or the decision makers) of the organization have to hash out every single detail that would go into the final policy.
- During the establishment of the policy it is determined which information would be stored, archived, maintained or destroyed.
- The guidelines for these processes and the timings for carrying them out are also determined.
- The data retention policy significantly reduces an organization’s data storage costs as it allows them to safely destroy data that is longer useful to them.
- A properly created data retention policy can make the process of searching and accessing data very easy whenever the data is needed for a specific purpose.
Outline of the Data Retention Policy
The outline of a typical Data Retention Policy includes:
- The specific purpose of the policy
- Entities affected by it
- Types of data
- Length of retention
- Instructions for data to be destroyed, and,
- The entities directly involved with the data.
A proper data retention policy can help you improve some of your organizational practices, to better store, maintain, or destroy piled up data. But for ensuring complete security of your data you can always rely on CloudBacko. CloudBacko lets you store your data on a wide variety of cloud backup services. Along with cloud backup storage, you can also take advantage of its other features like unlimited retention policies per backup set.