Data Pack Rats
Less is better
I find that a lot of people and businesses keep information they don't need, and keep it longer than they need to keep it. This can be a risk and is known as "information liability."
In Baseline magazine, an article called "When it comes to data, less is better" points out the need to minimize the amount of data that is kept for the purpose of cutting risks. They suggest:
"Go through all your processes and purge data that doesn't serve a business purpose."
This they call a "data audit" and suggest to classify public information and personal identifiers and separate them.
In my filing classification system, you'll find it is easy to classify information. Each classification connects it to retention schedule codes and legal citations for that class.
If you think you've been keeping information too long, consider a data audit and purging what you no longer need. It's just good practice.
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