What is the purpose of a data retention policy?

A data retention policy is essential for organizations as it provides a clear framework for how long different types of data should be stored and the specific procedures for deleting that data when it is no longer needed. This policy helps organizations manage their data responsibly by ensuring compliance with legal and regulatory requirements, minimizing risks associated with data breaches, and optimizing storage costs.

By specifying retention periods, organizations can streamline their data management practices, ensuring that they do not keep data longer than necessary. This not only protects sensitive information but also improves overall data governance within the organization. Having a definitive plan for when to delete data aligns with data protection principles and can enhance operational efficiency.