What Is a Data Retention Policy?

A data retention policy, sometimes referred to as a records retention policy, is a specific set of rules that determines how an organization can store data—and for how long. The guidelines in a data retention policy are determined by a number of factors, including the internal preferences of the organization, legal liabilities, and the regulatory requirements of various jurisdictions. 

Policies for data retention focus on both the accessibility of client / customer data and the security of the data. While every industry must comply with data retention policies like the GDPR, HIPAA, and the California Privacy Act, industries like the retail sector, education, government entities, financial service providers, and healthcare entities have their own specified policies as well. 

With so many different policies requiring compliance, in an increasingly data-reliant world, adhering to them can often be burdensome to organizations of all sizes and industries.

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 all-in-one solution to data retention, security, and compliance

Clumio is a cloud-native, fully-secured cloud-backup-as-a-service solution that offers organizations comprehensive data backup and protection while delivering simplified, clear visibility into all relevant data retention policies through several innovative features. 

With Clumio, your organization receives 

• A simplified user interface that offers a single encompassing view of all assets and resources
• The ability to automatically discover Amazon Web Services (AWS) accounts, index existing resources, and apply uniform policies to new assets as they are added to backups
• Instant alerts when compliance may be at risk
• ISO 27001, ISO 27701, SOC 2 Type 2, HIPAA, and PCI DSS certifications
• Air-gapped storage of backups outside of production environments to ensure full protection of backup copies against ransomware attacks
• Predictable cloud backup and data storage costs coupled with a Pay-As-You-Go consumption model that allows rollover credits
• A lower RTO (Recovery Time Objective) and RPO (Recovery Point Objective) to ensure business continuity in the event of downtime
• Cost analyzer tools that pinpoint viable opportunities for cloud cost savings 

Experience firsthand what a comprehensive, all-in-one cloud backup solution can achieve for your business or organization. Schedule a demo today to learn how your data and compliance status can be protected by the industry’s leading innovator for AWS cloud backup in less than 15 minutes—no need to install any new infrastructure or software or conduct any pre-planning beforehand.

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.