Stored Data: Time to Say Goodbye? - Deloitte CIO - WSJ
Ask a group of CIOs how long the law requires them to hold on to company
data assets, and most will casually reply “seven years”, an answer that is,
in many situations, incorrect.

Today, many companies are not exercising good practices around data
retention and destruction because their CIOs are not adequately versed in
the complex bodies of law that govern data retention.


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Source:
http://deloitte.wsj.com/cio/2012/09/06/stored-data-time-to-say-goodbye/
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