What does the data retention policy specify?

The data retention policy specifies how long data should be kept and when it should be deleted. This policy is essential for compliance with various regulations and organizational requirements, ensuring that data is retained for the necessary duration to meet legal, operational, and business needs. It addresses questions of data lifecycle management, focusing on the retention of data to minimize storage costs and limit liability while maintaining adequate access to information that is still needed.

It is crucial for organizations to establish these policies to avoid unnecessary data accumulation, which can lead to increased risks related to data breaches, security concerns, and compliance issues. Having a clear understanding of retention timelines can also help with audits or investigations when needed.