ABSTRACT

Data retention is about the policies, processes, procedures, and practices related to when data should be kept and when it should be disposed of.

Why should data be kept beyond the first use for which it was primarily intended? For example, why retain a revenue-producing transaction that has been closed because payment has been received? The first reason is that the information has an ongoing business use, such as being able to help verify revenues if financial systems are audited or serving as part of a customer history for sales and marketing efforts. The second reason is that the information might be needed to satisfy legal requirements including compliance or simply to have on hand in case of a lawsuit.