Retention of business records should primarily be based on what criterion?

The primary criterion for retaining business records is based on business requirements. This focuses on the operational needs of the organization, ensuring that important data is available for decision-making, continuity, and analysis. Various aspects of business operations, including strategic planning, customer service, and financial analysis, all rely on access to relevant historical data.

While legal requirements also play a significant role in record retention policies, they are generally designed to support specific legal compliance rather than addressing the broader operational needs of the business. Business requirements encompass a wider array of factors, including the necessity to maintain records for internal processes, management, regulatory compliance, and the need for historical insights to drive future business strategies.

Periodic vulnerability assessments and device storage capacity do contribute to the overall information security posture and practical maintenance of data, but they do not directly determine the fundamental need to retain records for effective business operations. Therefore, aligning record retention with business requirements ensures that an organization is not only compliant but also capable of leveraging its historical data for competitive advantage and operational efficacy.