Data Retention policy

What would be a good standard data retention policy?  I've just implemented a full backup strategy here including offsite backup to one of our remote sites, however I'm a bit puzzled on what to do with the data once the replication is complete.  How long do I keep the archived data? 3 Months?  3years?  Financial data is usually about 7yrs I'm guessing.  Do I just delete the old Data or do I move it again somewhere else for older Archiving?

thanks
regmandyAsked:
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RmKrishnanConnect With a Mentor Commented:
How long do I keep the archived data? 3 Months?  3years?  Financial data is usually about 7yrs I'm guessing.

as per standard we have to keep the archive data with 10 years retention

  Do I just delete the old Data or do I move it again somewhere else for older Archiving?

after the archive backup complete with retention 10 years, you can go ahead and delete the data. In future, If you need the data, we can retrieve it from archive. before delete, make sure that data has been archived properly. Some of the backup tools, archive delete option is available, once the archive complete automatically data has deleted from the source server.

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Jared_SCommented:
What is your industry?
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regmandyAuthor Commented:
construction.
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regmandyAuthor Commented:
My apologies for the delayed response but thank you for answering.
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