What is the best way to archive CRM data and how long should it be retained?

Archiving CRM data involves relocating unnecessary data to a separate system, enhancing the active CRM's performance, security, and scalability. This not only streamlines operations but also ensures compliance with legal regulations regarding data storage and usage limitations, contributing to improved business efficiency and risk management.

Archiving CRM data is the process of moving CRM business objects or master data that are no longer needed or relevant to a separate storage outside the database. This can help improve the performance and efficiency of the CRM system, as well as reduce the storage costs and comply with the data retention policies. However, the archived data can still be accessed in a read-only mode within the CRM system if needed. There are different methods and tools to archive CRM data, depending on the type of CRM system and the business requirements. For example, Salesforce offers various solutions to archive CRM data, such as Big Objects, Heroku, or third-party ecosystem partners.

Archiving CRM data basically clears out old or unused data to keep the system clean while still retaining the data in storage for any necessary future access before deletion. It's an essential part of the data lifecycle for optimal CRM management.

In my business i archieve customer's data on my website cloud because i understand the importance and safety measures i need to put to preserve it. I also retain it as long as am in business, my team and i can always refer back to our experiences for improvement.

1. Check legal requirements. 2. Define retention policies. 3. Identify data to archive. 4. Choose archiving method. 5. Secure archived data. 6. Regularly review and purge. Remember, the specific retention periods and archiving methods may vary depending on your organization's needs and legal obligations. It's always a good idea to consult with legal and compliance experts to ensure your CRM data retention practices align with relevant regulations.

Archiving CRM data is beneficial for a multitude of reasons. 1. You have an understanding of what was spoken about between your firm and a contact, prior to that contact leaving a firm or changing roles. 2. Old data may not be of use right now, but it could be crucial to have in the future. 3. Archiving CRM data creates a very obvious difference between dated data & current data. 4. It is better to have old or unusable data on record as opposed to completely wiping it away from existence within your CRM.

Archiving CRM data is beneficial for several reasons, such as: - It can improve the speed and performance of your CRM system by removing unnecessary or outdated data that may slow down the system or clutter the user interface. - It can help you comply with data regulations and policies by securely storing and deleting data according to the required retention periods . - It can reduce the storage costs and optimize the resources by moving data from expensive Tier 1 storage to less expensive locations. - It can enhance the data visibility and discovery by analyzing and classifying the data before archiving and making it easier to search and access when needed.

CRM data should be archived since it contains important insights and information about customer interactions. Businesses that store this data can use it later for analysis, decision-making, and enhancing consumer relations. Maintaining an archive of consumer contacts makes it easier to spot trends, follow patterns, and develop data-driven marketing plans. It's similar to having a vast amount of knowledge at your disposal that is waiting to be discovered and applied to improve company performance.

Choosing the best method and tool for archiving CRM data depends on several factors, such as the type, size, and frequency of the data, the storage cost and performance, the data retention policies and regulations, and the accessibility and usability of the archived data. There is no one-size-fits-all solution, but rather a trade-off between different options. Some of the common methods and tools for archiving CRM data are: - Heroku Connect - Scribe Online - Tape

Understand your use case - Determine what kind of access you'll need to archived data (search needs, frequency of access expected), along with any industry regulations or internal policies on retention periods. This will guide how you design and manage archives.

Some of the factors to consider when setting retention policies for CRM data are: - The purpose and value of the data - The legal and regulatory requirements - The storage and security measures

Another important thing you should consider when your are setting the retention window of the CRM data which is the customers behaviors, customer’s behavior will define the needed period before killing the CRM data. Example if your churn threshold of your users on specific product is 2 years and then users will not buy this product again in there lifetime so the time needed to kill your data is 2 years, apply this exercise on the rest of products and you will answer your questions easily. The technical part of storing the data also depends on the churn threshold. Its always about customer centricity.

It's worth noting that you need a responsible person to avoid losing data, or your data could be sold or lost. In large companies, there are often people who sell data on the black market, and archives are valuable and coveted. A person should be responsible for the quality and process of archiving and leaks of archived data.

To evaluate time, It′s important to calculate it from a matrix that considers the following factors: 1.- Commercial needs and marketing strategies 2.- Categorization of data according to its sensitivity and usefulness 3.- Customer awareness 4.- Laws and regulations related to data retention in the industry and geographic location 5.- Storage capacity and the costs of maintaining data or increasing capacity versus the benefit

To keep your CRM data safe, regularly back it up. Also, clean up unnecessary data and update information from time to time. You can organize data into different categories for better management. Decide when to archive based on your organization's needs and the type of data you handle. This way, you ensure your data is safe and well-maintained.