Why retain?
It is common for regulations such as tax laws to require documents such as expense receipts to be retained in case of audit for a number of years. Businesses also have strategic reasons to maintain data for extended periods of time. For example, a retailer may backtest pricing strategies against historical sales data going back a number of years.Why dispose?
Maintaining physical documents and data always has an expense such as the overhead of data governance and management. Data can also represent a risk. For example, a firm may face liability in the case of a data breach. Data doesn't typically age well and may lose its value quickly.| Overview: Retention Schedule | ||
Type | ||
Definition | A classification of data that specifies requirements for retention and disposal. | |
Related Concepts | Data ManagementData GovernanceData CustodianData Wipe | |
