8.Compliance

Some businesses are required to retain data for certain lengths of time due to regulatory compliance. Whether mandated by industry regulations or government legislation, staying within compliance guidelines is a prevalent business concern. Penalties for violating compliance can include payments for damages, fines and voided contracts.

Data archiving helps businesses meet compliance both by storing data long term and by consolidating data for easy access in case of an audit. The rules dictating the length for which data must be retained, where it can be stored and who has access to it varies by industry and the type of data businesses in that industry generate.

Some examples of regulations with which organizations may need to be in compliance include the Sarbanes-Oxley Act (SOX), Health Insurance Portability and Accountability Act (HIPAA) and General Data Protection Regulation (GDPR).