P2P

Winter24

Peer to Peer: ILTA's Quarterly Magazine

Issue link: https://epubs.iltanet.org/i/1530716

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59 I L T A N E T . O R G THE NECESSITY OF DATA DISPOSAL The early stages of the data lifecycle—collection, analysis, and use—often receive significant attention and investment from organizations. However, retaining data beyond its purpose introduces substantial risks, turning an asset into a liability. Over-retaining unnecessary data can expose organizations to the following threats: DATA BREACHES The larger an organization's data holdings are, the greater its attack surface for potential breaches. Retaining unnecessary or outdated data increases exposure risks for sensitive information within an organization's data holdings. LEGAL VIOLATIONS Many privacy and cybersecurity laws, including those exampled below, explicitly require data disposition once it has outlived its purpose. Organizations must demonstrate that they only retain data if it is legally necessary or operationally justifiable. Failure to comply can lead to regulatory fines and penalties. REPUTATIONAL DAMAGE Today's consumers expect companies to respect their privacy, including the timely disposition of their personal data. When organizations fail to meet this expectation, they risk eroding customer trust. This reputational harm can lead to customer churn, lost business opportunities, and long-term brand damage. 1 2 3 FEATURES

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