Data retention policy is a critical aspect of enterprise data management, as it ensures that data is available for its intended applications, stored in a cost-effective way across its entire life cycle, and properly destroyed when it is no longer needed. With the increasing volume, variety, and velocity of big data, organizations must be more selective about which data to retain, where it will be stored, and for how long. Effective data retention policies help organizations comply with regulatory requirements, maximize the value of their data, and reduce costs associated with data storage and analytics. By implementing a comprehensive data retention policy, backed by cost-efficient data storage and analytics solutions, organizations can achieve compliance with local and international data retention laws and regulations, maximize the availability of data to support internal business processes, and reduce data storage/analytics costs.