What are the four elements that a data retention policy should define?

A data retention policy is a critical component of data governance that outlines how an organization manages its information throughout its lifecycle. The four elements that should be defined in such a policy are retention periods, data formats, data security, and data retrieval procedures.

Retention periods specify how long data should be kept before it is deleted or archived. This is vital because legal and regulatory requirements often dictate these timelines, while also ensuring that the organization is not holding onto unnecessary data for longer than necessary.

Data formats refer to the types of data that an organization will retain. This aspect is essential as different formats may have different compliance, security, and accessibility implications.

Data security entails the measures and protocols that must be in place to protect the retained data from unauthorized access or breaches. This ensures that sensitive information remains confidential and is only accessible to authorized personnel.

Data retrieval procedures define how data can be accessed and recovered when needed. Effective retrieval processes ensure that when stakeholders need specific data for operational or compliance purposes, it can be located and accessed efficiently.

In summary, the correct answer encompasses a comprehensive approach to managing data retention, addressing all critical aspects necessary for effective data governance and compliance.