GDPR’s ’Storage Limitation Principle’ decrees that you should only keep personal data for as long as the purpose is unfulfilled. Once the data has served its purpose, you should then delete it. This contrasts quite considerably with the desire from all organisations to have evergreen contact lists to engage with, market to and launch new and updated services for.
Neglecting this essential cleanup / clearing process though will likely result in GDPR non-compliance and could land you a fine, with the size depending on just how significant a violation it is. More importantly an increasing number of vendors are enforcing hard-strike principles against organisations who fail to maintain GDPR compliant audience data.
And while you can draft some specific Purpose for storing data for a somewhat extended period - you are still required to clean that data - especially in the case of customer account data - which needs to be regularly and periodically re-validated.
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