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Most businesses are holding onto way more digital information than they actually need. This isn’t just messy; it can actually put your company at risk. In today’s world, with AI and ransomware threats, it’s super important to only keep the data you really need, and to make sure it’s accurate. Think about it: do you really need to keep every single spam email or pizza flyer you’ve ever received for years on end? Probably not. But what about important stuff like end-of-year accounts? There’s a big difference, and you need a plan.
Key Takeaways
- Only Keep What You Need: A good data retention policy helps you keep necessary data and get rid of the rest.
- Microsoft 365 Tools: Use features in SharePoint and OneDrive to automate retention.
- Balance Compliance and Risk: Understand how long to keep different types of data to meet legal needs without creating unnecessary risk.
- Construction Data: Be mindful of liability with digital twins and BIM data; decide retention upfront.
- Management Oversight: Set policies at a management level to prevent accidental data loss.
Why Data Retention Matters Now More Than Ever
For years, businesses just put data on a file server and hoped for the best. But now, we have the ability to control how long data sticks around. This sounds simple, but it’s a big deal, especially with the rise of AI, ransomware, and data theft. Keeping data longer than necessary means more risk if something goes wrong. It’s about making sure your data is accurate and that you’re not holding onto sensitive information longer than you have to. This was part of the original idea behind data protection laws, and it’s even more relevant today.
Deciding What to Keep and For How Long
So, how long should you keep different types of data? It’s not a one-size-fits-all answer. You need to think about the type of information. For example, customer details like date of birth or credit card numbers? You probably don’t need to keep all of that forever. Maybe you keep their email address for marketing and purchase history, but the rest? It’s best to let it go. On the other hand, financial records like end-of-year accounts need to be kept for a specific period for legal and tax reasons.
A smart data retention policy helps you sort this out. It means keeping the data that provides business value and getting rid of the rest. Storing data might be cheap, but it’s not always a good idea. If your data gets stolen in a ransomware attack, having less data means less damage and fewer problems.
Using Technology to Automate Retention
If you’re using Microsoft 365, like SharePoint and OneDrive, you’ve got tools to help. You can actually set up data retention policies before you even create the data. For instance, you could set a policy for 2020 accounts data to be automatically deleted in three years, because you know you won’t need it after that. But for other data, you can set different rules. This means you can have different statuses and rules applied to different types of data automatically.
Special Considerations for Industries Like Construction
If you’re in construction and working with digital twins or BIM (Building Information Modelling) tools, data retention is a big topic. You might be creating digital models of buildings, which can open you up to liability. For example, if windows were installed incorrectly and they leak years later, you might have liability. You need to keep data for a certain period, maybe 10 years, to cover these potential issues. But you don’t want to keep everything forever.
The best approach is to decide upfront what data will be part of the final handover pack that goes into the digital twin. This is the data you’ll keep. For projects where data might just sit around for years, it’s really important to decide your retention policy before you start. Make sure your staff understands how to use these tools correctly, but the overall policy should be set at a management level.
Setting Policies from the Top Down
It’s important that data retention policies are managed by leadership. You don’t want individual staff members deciding to delete business-critical data, especially if they leave the company. I’ve heard stories of people leaving and taking all their data with them, or deleting it. Management needs to oversee this process to make sure data is handled correctly and policies are followed. These tools are already available; you just need to start using them. If you need a hand setting up a policy that works for your business, don’t hesitate to reach out. We can help you get started and make sure you’re keeping what you need and getting rid of what you don’t.
