Data retention policies based on value, risk and compliance requirements are gaining significance among Information Technology leaders. The sheer amount of aged data and rapidly increasing new data from a variety of sources stored both within on-premises environments and in the cloud, creates severe governance, security and management challenges. The antiquated thought process of just adding more storage is not the answer, as it is inefficient and costly, especially over time. Focusing on managing data in a strategic manner has not, in the past, been a priority. The challenges of managing data have grown significantly over time and involve:
- The influx of newly created data, while taking into consideration the preservation of aging data.
- Obsolete technology, as many organizations still manage and hold data in old applications and storage repositories.
- Lack of awareness concerning evolving regulatory and legal requirements that often require the deletion of data for data protection or privacy reasons.
- Assigning the longest retention policies when faced with multiple regulatory concerns.
- Working in silos, as various departments within the enterprise don’t communicate or collaborate to manage data effectively.
Dewpoint’s top recommendations to address data retention include the following:
- Acquire an analysis tool to gain a better understanding of sensitive, outdated, redundant and trivial data to assist each business unit to dispose of or mitigate risk of unstructured data.
- Create a content map of the data providing the necessary information visualizations to legal, compliance and business user representatives in making decisions regarding data.
- Engage legal, compliance, security and risk departments, with executive sponsorship, to determine corporate compliance and industry-specific data retention requirements across all geographic areas.
- Select appropriate storage environments and enforce newly created or revised retention policies to organize legacy data and effectively manage new data.
Contact Dewpoint to help with your data analysis and provide a roadmap to reduce data.