RETENTION POLICY Meaning and
Definition
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Retention policy, in the context of data management, refers to a set of guidelines and procedures that govern the storage, preservation, and destruction of information within an organization. It outlines the duration for which data should be retained, the method of storage, and the circumstances in which data can be discarded.
A retention policy encompasses various factors such as legal requirements, compliance regulations, corporate governance, industry standards, and business needs. It aims to ensure appropriate data governance, protect sensitive and valuable information, and avoid legal and financial consequences.
The policy typically outlines the different categories of data and specifies the retention period for each category, taking into account factors like the nature of information, its relevance, and the potential need for future reference. For example, financial records may need to be retained for a certain number of years, while customer information may be retained for a specific period after the termination of a business relationship.
Additionally, a retention policy may define the storage methods and access controls for different types of data. It may require certain security measures to be implemented to safeguard sensitive information, ensuring its confidentiality, integrity, and availability.
Overall, a well-defined retention policy helps organizations maintain control over their data, promote good data management practices, comply with regulations, and mitigate risks associated with data loss or misuse.
Common Misspellings for RETENTION POLICY
- setention policy
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- rerention policy
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- regention policy
- reyention policy
Etymology of RETENTION POLICY
The word "retention" originated from the Latin word "retentio", which means to "hold back" or "keep". It is derived from the verb "retinere", which combines "re-" (back) and "tenere" (to hold). "Retention" refers to the action or process of retaining or keeping something.
The word "policy" comes from the Old French word "police", which initially meant "civil administration" and later evolved to refer to "prudent management" or "governmental regulation". It originates from the Latin word "politia", meaning "the art or science of government".
Putting these terms together, the phrase "retention policy" refers to a set of guidelines or rules that establishes how long something should be retained or kept.
