Historical Data Retention
Understanding the Key Benefits and Options
When implementing a new ERP system, one of the biggest decisions you’ll face is what to do with your historical data. Should you migrate it? Archive it? Leave it where it is? This page explores your data retention options – how to store and access legacy ERP data once you’ve gone live on your new system. (Not to be confused with data extraction, which is the process of pulling data from your legacy system for reporting, migration, or analysis purposes.)
Data Retention is about where and how you store historical data long-term.
Data Extraction is about pulling the data out of your legacy ERP system.
Together, these strategies ensure your business stays compliant, informed, and efficient as you modernize your systems.
Why Data Retention Matters
A robust historical data retention strategy is essential for business operations, compliance, and reporting during an ERP implementation.
Proper data retention ensures valuable information is not lost during
the transition to a new ERP system.
Your Historical Data Retention Options
Examples of Historical Data Retention
Regulatory Compliance:
- Example: A pharmaceutical company retains clinical trial data for ten years to comply with industry regulations. This includes patient records, trial results, and adverse event reports.
- Benefit: Ensures the company can provide necessary documentation during regulatory reviews and audits.
Customer Relationship Management:
- Example: An e-commerce business retains customer purchase histories to offer personalized recommendations. This includes past orders, browsing behavior, and customer feedback.
- Benefit: Enhances customer satisfaction by enabling tailored marketing and efficient handling of inquiries.
Operational Efficiency:
- Example: A logistics company retains shipment records to analyze delivery performance. This includes data on delivery times, routes, and any issues encountered.
- Benefit: Helps identify areas for improvement and optimize logistics operations.
Strategic Planning:
- Example: A retail chain retains sales data to analyze market trends and plan inventory. This includes historical sales figures, seasonal trends, and promotional impacts.
- Benefit: Provides insights for strategic decision-making and inventory management.