What Is a Data Retention Policy?

A data retention policy is a set of guidelines that outline how long specific types of data are to be retained and when they should be disposed of. It’s important for organizations to have a data retention policy not only to comply with regulatory requirements but also to reduce legal exposure, manage storage costs, and ensure the relevancy of existing data. Creating a data retention policy requires identifying legal and business requirements, considering different types of data, defining responsibilities, and regularly reviewing and updating the policy.

Data retention regulations are centered on both ease of access to customer data and their safety. Following data laws such as GDPR, HIPAA, or the California Privacy Act is obligatory for every business sector, but the retail industry, academic institutions, governmental entities, financial services, and healthcare entities have additional specific requirements.

With an ever-growing plethora of standards and regulations that necessitate the use of data, it can be a difficult task for agencies and businesses of all sizes and areas to comply.

Potential difficulties with data retention in the cloud

While many organizations are now leveraging cloud data protection solutions to secure their cloud data, data retention regulatory compliance is becoming increasingly complex and costly.

Some of these potential issues include:

• Multiple, complicated policies – Retention policies vary across state and international lines, and different types of data come with different rules that must be adhered to. Furthermore, organizations have to keep track of what data they can keep, what can be deleted, and when the retained data must be deleted. When new resources are added, organizations have to apply new policies to them. If the organization slips up in any way, it can be liable for fines and even legal action—even for simply retaining data past the appropriate date.
• Cost – Data retention obviously involves storing data. In the cloud, this can add up quickly if the right data protection solutions are not used. For example, organizations that opt for cloud-native snapshot-based backups can see their storage costs skyrocket as new data is retained and duplicated over time.
• Security – Data retention and compliance regulations also involve the security of the data being stored. The organization is on the hook for the security aspect and responsible for keeping the data secured. While security breaches and data leaks can occur as a result of human error, the ongoing threat of ransomware attacks has created a dangerous security landscape.

Fortunately, issues like these can be mitigated or even avoided outright by using a cloud backup solution that not only manages compliance and offers visibility into policies, but also helps control costs—all while providing top-tier security for the backup data copies themselves.

 

The complete answer to maintaining data, safeguarding it, and staying compliant

Clumio is a cloud-based, completely secure backup solution that provides organizations with comprehensive data backup and defense while providing clear insight into any data security policies using several cutting-edge tools.

Through Clumio, your company is given

• A straightforward user interface that gives a comprehensive overview of all elements and supplies
• The capability to recognize AWS accounts autonomously, catalog present resources, and impose consistent regulations to new assets while they are incorporated into backups
• Prompt notifications when adherence could be jeopardized
• Obtaining certifications such as ISO 27001, ISO 27701, SOC 2 Type 2, HIPAA, and PCI DSS
• Storing backups away from operational systems to guard against ransomware assaults by the use of air-gapping them.
• Consistent cloud backup and data preservation fees combined with a usage system that offers carried over credits
• Decreasing the amount of time and data lost to keep operations steady when something unanticipated occurs
• Tools to identify possible cost reductions in cloud services

See the effects of a combined, thorough cloud storage system for yourself. Book an appointment right now to understand how you can shield your information and meet guidelines with the prevailing authority in AWS cloud backup with only 15 minutes of work- no installation of new technology or software is required nor any pre-preparation.

Learn more about Data Retention Policy

HIPAA Data Retention in the Cloud
Find out how cloud backup can simplify HIPAA compliance and safeguard your organization from HIPAA-related data retention liabilities.

Achieving Regulatory Compliance with Cloud Backup
Adhering to regulatory compliance requirements can be complicated and error-prone if you use the wrong tools. Discover how Clumio can remove the complexity and risks of compliance for your organization.

Why Data Protection is Essential for Data Retention
Data retention policy compliance is about much more than just what data an organization can and can’t keep—security of the data is also an essential requirement. Learn how cloud backup can offer top-tier protection for all data across your organization.

An Overview of Data Retention Policy Considerations
There’s a lot that goes into determining your data retention policies. Learn some starting points and best practices for setting up your organization’s policies.

Data Management as a Service—Why Clumio Beats Cohesity
Data management has made a decided shift to a cloud-first approach, rejecting the complexity of hardware while demanding scale and agility. Discover how Clumio’s innovation in public cloud protection technology is far ahead of services like Cohesity and other data management solutions.