2 parties      ISO policy      Data retention schedule    Personal data

What is a Data retention policy?

A Data retention policy is a set of guidelines and procedures that define how long an organization will retain different types of data, as well as the processes for securely disposing of or archiving that data once it’s no longer needed. These policies are crucial for ensuring compliance with legal and regulatory requirements, managing storage costs, and mitigating security risks associated with retaining unnecessary data.
A well-defined data retention policy helps organizations effectively manage their data assets, reduce legal and compliance risks, optimize storage resources, and safeguard sensitive information throughout its lifecycle.

Tips

• Identify Stakeholders:Involve key stakeholders from legal, compliance, IT, security, and business departments in the development and review of the policy to ensure alignment with organizational goals and requirements.
• Periodic Review and Update: Schedule regular reviews of the data retention policy to ensure it remains up-to-date with changes in regulations, technology, business practices, and organizational requirements. Update the policy accordingly and communicate changes to relevant stakeholders.