How Do I Create A Comprehensive Data Retention Plan

Clients ask me that question everyday. I wish there was a one-size fits all answer. Unfortunately, data retention policies are not that simple. They are directly dependent upon the specific data and applications. Add in the complications of regulatory requirements, and data retention becomes a problem, which needs a custom solution.

Businesses must ask the following questions: What data should be kept and for how long? What are the best ways to evaluate what data is important to keep? How do you identify and categorize data that is mission critical, business critical and operationally important?

Answers will of course vary by business. One thing is certain: human input will form a data protection policy, not computer software and hardware. Data protection is a team project. IT executives, accounting and operational personnel must work together to develop the right plan. That lends integrity to the entire data retention process.

Most businesses fall short in their data retention policies and procedures. A recent survey by Cohasset Associates Inc. indicated that 76 percent of the respondents believed that improvements are necessary to their data-retention management program.

According to the survey, many businesses do not plan enough to create a quality data protection policy.